Teutonic crypto-fiscal paradise – Despite the bright red in the crypto bitcoin (BTC) market in the last few days, crypto investors from Germany are going to have something to cheer about. They will indeed have zero taxation on their cryptos held for at least a year. Something to make French taxpayers dream.
In Germany, cryptos are tax-free after 365 days
Even though tools are there to save you the headache of calculation of capital gains on your cryptos – as the Crypto Tax software Coin Trading -, there is still in France a 30% tax on the profits you have made from your crypto investments.
Across the Rhine, no hassle or taxation for little to be a minimum patient. As Decrypt notably reports, the Bundesministerium der Finanzen (Federal Ministry of Finance) has just published a document confirming that in Germany, the sale of bitcoins or any other crypto after a year of possession is exempt of any tax.
And this tax exemption does not only concern the purchase/resale. Contrary to some concerns, cryptocurrencies from rewards of staking or some loan returns cryptos (lending) also benefit from this tax exemption after one year. Indeed, before this clarification tax rules, the exemption period was more likely to be 10 years. Which is not/no longer the case.
With these tax conditions heavenly confirmed, we understand better than 44% of Germans want to invest in crypto. However, only 30% of French people are ready to have to take a tax accountant if they dare to convert their cryptos to euros or others fiat (or even just to buy a coffee in BTC). Let us pray for a miracle, and that the French legislators will finally understand the dangerous delay that we take in the cryptocurrency revolution in progress.
Oh ja, das ist toll! No taxes on the sale of bitcoins in Germany! Unfortunately, it’s not the same in France. Are you afraid of the tax return? Rest assured, Coin Trading is there to help you in this daunting exercise. Automatically calculate your capital gains using the software CryptoTax™.