Braun & Braun PartGmbB Steuerberatungsgesellschaft will help you to prepare your tax return if you have traded with Bitcoin, Ethereum, Iota or other Altcoins.
Revenue paid with digital currencies
If you receive income that is paid with digital means of payment, the income is taxable as normal. Of course, bookkeeping in Germany must be kept in euros. This means that the income must be converted into euros at the time of inflow.
Trading Crypto Currencies
Buying crypto currencies in private assets and selling them again within one year is a private sale transaction.
Value added tax liability?
Virtual currencies are generally regarded as intangible assets. The sale of an intangible asset is in principle taxable and subject to VAT as other services.
Commercial enterprise or self-employed activity
If you have virtual currencies in your business assets, for example, because a customer has paid his invoice in a crypto currency, then these are always tax-entangled in the business assets.
Mining
Miners are tradesmen. This means that miners must register their business with the local municipality.
Braun & Braun PartGmbB Steuerberatungsgesellschaft will gladly advise you on this topic:
Initial tax consultation (1 hour): 190 € plus Expenses and turnover tax
With pleasure personally, but also by phone, Skype possible.
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