Post
Topic
Board Bitcoin Discussion
Topic OP
No need to pay tax if you buy using bitcoin in Germany
by
cryptolake
on 01/03/2018, 08:37:47 UTC
The ministry of finance has declared that bitcoin transactions will not be taxed!
Instead, Germany will regard bitcoin as the equivalent to legal tender for tax purposes when used as a means of payment, according to a new document.

For tax purposes, this means that converting bitcoin into a fiat currency or vice versa is "a taxable miscellaneous benefit." When a buyer of goods pays with bitcoin, an article of the EU's VAT Directive will be applied to the price of bitcoin at the time of the transaction, as documented by the seller, according to the document.