Quote from: bL4nkcode on March 01, 2018, 08:55:26 AM

Quote from: cryptolake on March 01, 2018, 08:37:47 AM

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.

Mostly in any countries happened this one, like in our country the P2P transactions with any crypto will be tax free but once its converted to fiat using our local exchanges which are registered and licensed with the central bank then tax will be covered. But it will be nice if more countries will adapt like what germany and philippines do.

But why would they have no tax applied, they could at least try to get history of purchases from merchants and thus charge tax in fiat if not in USD. It is hard for me to believe that they will simply say there is not tax for bitcoin as by doing this they might start faster adoption and by doing this there is no benefit to them in terms of putting more money into their pockets. Country as a whole needs to function and most of it's activities are paid by taxes either way they will have to raise taxes eventually for living when bitcoin becomes more adopted if they don't want to tax goods now. There must be some trade-offs.