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May 13, 2022 04:41 pm
Original Link: https://tech.slashdot.org/story/22/05/13/1640243/germany-affirms-crypto-sold-after-one-year-is-tax-free?utm_source=rss1.0mainlinkanon&utm_medium=feed
Germany Affirms Crypto Sold After One Year Is Tax-free
Crypto investors in Germany won't pay tax on sales of digital assets such as bitcoin and ether -- as long as they're held for more than one year. From a report: Germany's Federal Ministry of Finance shared the ruling in a 24-page document, which formally defined blockchain concepts such as mining, staking, airdrops and masternodes within the context of the country's tax system. The decree marks the first time Germany has issued nationwide tax guidance on cryptocurrency. It was crafted in close consultation with the country's 16 federal states, as well as top financial institutions. Government ministers had held a hearing last summer to gauge sentiment among local crypto associations such as Bitkom and other market participants -- including individual investors. One of the most pressing questions related to whether lending or staking cryptocurrency extends the tax-free period on digital asset sales to 10 years, as is the case with buy-to-let properties.Read more of this story at Slashdot.
Original Link: https://tech.slashdot.org/story/22/05/13/1640243/germany-affirms-crypto-sold-after-one-year-is-tax-free?utm_source=rss1.0mainlinkanon&utm_medium=feed
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