Germany: zero capital gains tax on Bitcoin
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Loading... - Kinga Voros
- 13 Oct 2022
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Germany has explained that capital gains on Bitcoin are to be considered tax-free, provided they remain on the wallet for more than one year.
Zero tax on Bitcoin capital gains in Germany
Individuals in Germany will not be subject to tax on capital gains from transactions in Bitcoin or Ether or other currencies, provided they have held the income stationary for at least one year.
In the specification published on 10 May and taken up for clarification and explanation by the German Minister of Finance, the following day it is clarified that cryptocurrency income from staking, lending and airdrop are included in the above conditions, unofficially assigning the country the label of crypto-friendly.
Even BTC or ETH if used for staking and/or lending will be tax-free if these have a minimum duration of one year.
The country is believed to be crypto’s biggest friend, at least according to a report published by CoinMarketCap recently.
Coincub, author of its Global Crypto Ranking, quite unexpectedly ranked Germany first, undermining Singapore in the quarterly report it published.
The country has the most Bitcoin nodes per capita surpassing the United States. In recent months, it has given important signals that stretch its determined hands to the world of digital currencies.
The Federal Financial Supervisory Authority has granted a business license for cryptocurrency custody for Coinbase in Germany and has brought in some interesting initiatives with other companies. Read More...
