In-game services, such as the rental of virtual land, are not subject to VAT. The sale of the tokens received for this service can, however, lead to a service that is subject to VAT. This was the conclusion reached by the 5th Senate of the Federal Fiscal Court BFH in its ruling of 18 November Ref.
The highly abbreviated facts on which the judgment was based: The taxpayer plaintiff acquired virtual properties through the Second Life Market Place as part of his […] Second ruling on income taxation due to liability from the sale of crypto assets The Cologne Investitionen in krypto-beratung Court has published the ruling of its 14th Senate dated 25 November Case No.
The first ruling came from the Baden-Württemberg Investitionen in krypto-beratung Court and was already pronounced on 11 June Case No. It is the decision of the Baden-Württemberg Fiscal Court of June 11, Case No. In summary, the case in dispute concerned a taxation of gains realized in from the sale of cryptocurrencies held as private assets within the relevant period of one year.
These Altcoins Changing The Game In Crypto Bear Market!
Of course, such a ruling gives many taxpayers and their advisors […] Hearing of BMF dated August 19, on the Income Tax Treatment of Virtual Currencies and Tokens On June 17,the German Federal Ministry of Finance BMF had published a investitionen in krypto-beratung of a BMF letter on the income tax treatment of tokens in general and virtual currencies such as Bitcoin in particular, which had been coordinated investitionen in krypto-beratung the supreme tax authorities of the German states.
Subsequently, the BMF received numerous comments from various associations, most of which appreciated the general aim of the BMF letter to improve legal clarity and thus also planning certainty, but at the same time expressed extensive criticism on the partly undifferentiated […] Draft Guideline of the tax authorities on the Income Tax Treatment of Virtual Currencies and Tokens On June 17,the German Federal Ministry of Finance BMF published a draft of a BMF letter on the income tax treatment of tokens in general and virtual currencies such as Bitcoin in particular, which was coordinated with the supreme tax authorities of the German states.
The later finalized BMF letter is intended to provide practitioners in administration and business and individual taxpayers with a guideline on the income tax treatment of tokens and virtual currencies. The content confirms the approaches already taken in the taxation practice of many […] Cryptocurrencies and their Tax Risks Cryptocurrencies, are increasingly gaining attention from private and institutional investors.
The flagship of all cryptocurrencies is still Bitcoin. Meanwhile, there are more than 10, other cryptocurrencies so-called altcoins[…].