The local authorities of Zermatt, a small town in southern Switzerland, allowed their residents to pay taxes with bitcoin.
The municipality of #Zermatt has taken an important step for #innovation: it now accepts #Bitcoin as official payment!
We are very proud to support with our payment solution & applaud the #pioneering spirit that lives in the mountains of Zermatt.https://t.co/TLtgSU14hb
— Bitcoin Suisse (@BitcoinSuisseAG) January 29, 2020
Technically, such payments will be made with the help of Bitcoin Suisse, which has been working in the market since 2013. The regulatory act has already been approved in the local municipality. Residents will need to submit an application to the local tax authority to pay taxes with cryptocurrency.
Received coins will be converted into national currency and transferred to the state account.
Earlier we wrote that paying taxes with cryptocurrency is now possible in Bermuda. To keep up with the latest news in the world of cryptocurrencies and the blockchain industry, check out updates on TheCoinShark.