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Tax-exemption for Cryptocurrencies used to make purchases in Germany.

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The German Federal Ministry of Finances has decided to not tax Cryptocurrencies that is used to purchase other goods.

The German Federal Authority has announced it’s decision publicly on 27th of February to keep goods bought through Bitcoin, free of the duty and obligation.

The European Court has also stated that it regards virtual currencies as a legal mode of payment if these currencies are acceptable to the parties involved in the exchange and the sole reason behind it’s usage is as a means of payment. They have also decided to not tax miner fees.

As per the decision taken by the Court, any conversion from Cryptocurrency to Physical currency is considered as “other taxable services”. The establishment which will act as a mediator shall be exempted from taxes as well. The operators of the Crypto trading can also get the privilege of not being taxed if only they act as the intermediate between the actual parties.

These Policies are very different from United States’ where Bitcoin is considered to be a property and is considered taxable.

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