Post
Topic
Board Bitcoin Discussion
Re: Germany gives tax exemption for bitcoin exchange operators
by
Xester
on 22/04/2018, 15:06:01 UTC
Germany sees bitcoin as a currency, equivalent to legal means of payment, an alternative to fiat and an acceptable mode of payment. They will not tax the person who buys coffee using bitcoin. More interestingly, they are not to tax bitcoin Exchange operators who are using their name or act as intermediaries for buying and selling bitcoin. Not included in this exemptions though are exchanges that operate as a technical marketplace.

This actually is the evidence that bitcoin can be regarded as a currency, not as an asset wherein every mkve you make using it you will be taxed. If only more countries will accept bitcoin as payment then it will really level up how people look at bitcoin.

Source: https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/

Germany really understands the nature of cryptocurrencies so their taxation was fair and just for these digital cryptocurrencies. Possibly they have seen cryptocurrencies as a currency and not as a property, stock or a commodity which is taxable. Taxing exchanges is the right way but the taxation is called the business and income tax. I salute Germany and this principle is also applied in the Philippines. Hope other parts of the world also uses this kind of fair taxation.