Germany outlines favorable tax guidelines, gains on BTC and ETH sold after a year tax-free
The Federal Ministry of Finance (BaFin) published a 24-page document on Tuesday outlining clear income tax rules for cryptocurrency and virtual assets. Tax practitioners, businesses and individual taxpayers now have clear direction 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 acquisition will not be liable for taxes on the sale if they realize a profit. Parliamentary State Secretary Katja Hessel also addressed questions around the long-term staking of cryptocurrencies:
Continue Reading on Coin Telegraph