Germany Won't Tax You for Buying Coffee With Bitcoin
While in the US, using bitcoin may trigger a taxable event - Germany, has taken a different stance - it's just like any other currency!
This is a huge signal to the crypto-world. Germany is welcoming users of digital tokens, and could reap quite the benefit. Those with crypto to spend will consider Germany a prime market, and the government will still collect their value added tax on purchases.
Of course, the VAT is nowhere near as burdensome as a capital gains tax.
Check out this Article for more detail :
https://www.coindesk.com/germany-considers-crypto-legal-equivalent-to-fiat-for-tax-purposes/
Well it seems like its time to move to Germany!
For future viewers: price of bitcoin at the moment of posting is 9625.00USD
May be bitcoin drop 7000.
Sad that we have to be happy for such small victories. Being delighted that we won't get taxed for buying a damn coffee with crypto. But we all know that our governments are only trying to protect us. Protect us from making any money lol.
Anyway, good game Germany.
Actually VAT in Germany is 19% while capital gains tax in the US is 15% if you make less than 418k per year. And you can defer and lessen some of the payments depending on how you file in the US. So it might be nearly a wash. these governments want their money man.
Hi @funny-gifs interesting post probably it wont cost 1Bitcoin per coffee :-)
bitcoin may be hit 5K in next month .
Wow that high
That sounds cool . :)
:) yeah but market is too much down .