Cryptocurrencies are equal to legal tender. In Germany by law.

Cryptocurrencies are equal to legal tender. This is Statement of the German government in a new 27.02.2018 VAT law. I think this could bee the way how G20 will discuss cryptos for whole EU. FOMO.

Linked to the PDF on Minster of Finance site (in German) with original text:

http://www.bundesfinanzministerium.de/Content/DE/Downloads/BMF_Schreiben/Steuerarten/Umsatzsteuer/Umsatzsteuer-Anwendungserlass/2018-02-27-umsatzsteuerliche-behandlung-von-bitcoin-und-anderen-sog-virtuellen-waehrungen.html

Summary taken from. https://twitter.com/Hofbraeuer/status/969135461452132352?s=19:

• Converting crypto to fiat is VAT free

• Mining is VAT free

• in game currencies are not equal to fiat

• exchanges are not always VAT free

• Cryptocurrencies are equal to fiat if they are used as payment and both sides agreed.

submitted by /u/Noyzone
[link] [comments]

from Cryptocurrency news and discussions. http://ift.tt/2FH4u9i