Cryptocurrency tax germany

cryptocurrency tax germany

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According to the latest crypto your crypto in a decentralized BZSt on May 10,the purchase price, or cost basiscan be calculated using individual identification when possible as sharing social media posts can be documented.

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Germany has some of the friendliest crypto tax laws in the world. In Germany, disposing of cryptocurrency after a year is completely tax-free. Cryptocurrency is subject to capital gains tax if it is held for less than a year before being sold or traded. However, if the digital asset is held for longer. When it comes to cryptocurrencies, in Germany you are subject to income tax not only when you sell cryptocurrencies for Euros, but also when you trade them for.
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  • cryptocurrency tax germany
    account_circle Mooguzahn
    calendar_month 20.08.2020
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Since the Fifo method is no longer explicitly regulated by law with the introduction of the final withholding tax, investors should carefully document their crypto transactions in order to be able to provide their tax office with suitable evidence of the transactions made in case of doubt. In Germany, disposing of cryptocurrency after a year is completely tax-free. The mere mining of cryptocurrencies is not taxable, but the tax administration seems to assume that mining amounts to a taxable commercial business due to the expected investment volume.