Subscribe to our Telegram channel

Cryptocurrency regulation in Germany has changed — now you don’t have to wait 10 years to avoid paying taxes

10:58 am, May 14, 2022

The German Ministry of Finance has released new cryptocurrency taxation rules, according to which no tax is levied on income from BTC and ETH sold 12 months after purchase.

The Federal Ministry of Finance last week published a 24-page document that provides clear income tax rules for cryptocurrencies and virtual assets. Tax advisors, businesses, and individual taxpayers now have clear guidance on the tax requirements for acquiring, trading, and selling cryptocurrencies.

The key takeaway is that individuals who sell BTC or ETH more than 12 months after purchase will not pay sales taxes if they realize a profit. Previously, a cryptocurrency owner had to wait ten years to avoid the tax.

Parliamentary Secretary Katia Hessel said that the work of the Ministry of Finance, despite the 24-page document, is not yet complete. The official said that this is only an interim result. The crypto industry is developing at such a fast pace, Hessel believes, that regulators are guaranteed to always have work and topics to discuss new rules.

Subscribe to our Telegram channel

BTC

$75,756.24

0.22%

ETH

$2,870.54

6.19%

BNB

$596.98

1.19%

XRP

$0.55

1.49%

SOL

$195.14

2.83%

All courses
Subscribe to our
Telegram channel!
The latest news and reviews of the cryptocurrency markets of the last
day right in your messenger. We are waiting for you!
GO TO
Show more