Cryptocurrency Tax Guidelines Released in Germany

Cryptocurrencies in Germany will not be taxed if sold after 1 year of ownership. This is stated in the new legislation adopted in this country.

The country's first tax guide was issued by the Ministry of Finance (BMF). It provides features of the calculation of income tax on cryptocurrency.

The 24-page document describes various issues related to digital assets, including DeFi sector tokens. Also, according to the BMF department, the new guidance covers the issues of mining, staking, hard forks, lending, airdrops.

The main change is that you will not need to pay income tax if you sell cryptocurrency within a year. Previously, crypto assets could be stored for up to 10 years without paying income tax. However, now the situation has changed.

A new word in the environment of cryptocurrency exchanges is the HUOBI platform.

Coin Shark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources . Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.

 

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