Cryptocurrency Q&A
Is cryptocurrency tax-free in Germany?
Is cryptocurrency tax-free in Germany?
KpopHarmonySoulMate
Sat Jul 13 2024
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5 answers
1013
Excuse me, I've been hearing a lot of buzz about cryptocurrency lately, and I'm particularly curious about its tax implications in Germany. I've been investing in a few digital currencies and was wondering if my profits are subject to taxation in Germany. Do I need to declare my crypto transactions and earnings to the tax authorities? Or is there a specific law or regulation that makes cryptocurrency tax-free in Germany? I'd appreciate any clarity on this matter as I'm aiming to make informed decisions regarding my investments. Thank you for your time and assistance.
5 answers
CryptoWizardry
Mon Jul 15 2024
Cryptocurrency transactions in Germany are subject to taxation, similar to several other countries including Australia, Canada, India, the United Kingdom, and the United States.
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GeishaMelody
Mon Jul 15 2024
Cryptocurrency gains are taxable, requiring individuals to report any increase in value or profits derived from transactions.
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Giulia
Sun Jul 14 2024
For tax purposes, there are specified exemption limits when gifting cryptocurrency. These exemptions allow for tax-free transfers up to certain thresholds.
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Carlo
Sun Jul 14 2024
For friends, the tax-free threshold for gifting cryptocurrency is €20,000. This means that individuals can gift up to this amount without incurring tax liabilities.
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Margherita
Sun Jul 14 2024
For family members, the tax-free threshold is significantly higher, set at €500,000. This allows for larger transfers of cryptocurrency to immediate family without taxation.
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