Just realised the full insanity of this country’s tax system…
In Germany, if I buy Bitcoin, hold it for three months, and the price goes up then use it to buy a laptop, I have to pay taxes on the difference.
Didn’t sell. Didn’t cash out. Just spent it.
But the Finanzamt says:
“That’s a sale. We want our cut.”
So yeah… even using your own money can make you a criminal here.
#SteuernsindRaub.
Need. An. Escape. Plan. 😱
Same in the States. I believe it is recognized as an asset not money.
Is it surprising though?
You get taxed when you buy something, sell something, do something, use your own skills to create something of value. What part of the government is involved in that?
Although if you take out a loan on your bitcoin that is not considered a sale. In the USA at least.
Zitat: "Die Gewinne bleiben jedoch nach § 23 Absatz 3 Satz 5 EStG steuerfrei, wenn die Summe der aus sämtlichen privaten Veräußerungsgeschäften im Kalenderjahr erzielten Gewinne (Gesamtgewinn) weniger als 1.000 € beträgt."
Ja aber 1000€ sind ja nicht viel 😅
Steuern sind Raub😎
firefish
how much tax and does it depend on how long you hold?
The govt in Slo is just discussing the bill for 25% taxation regardless of years you hold. 😠
Yes, it does depend on how long you hold in Germany. This is the rule for private people):
If you hold your Bitcoin for more than 1 year, no tax at all on the profit.
If you sell or spend your Bitcoin within 1 year, the profit is fully taxable under your personal income tax rate
That rate depends on your total income — it can be anywhere between 14% and 45%.
There's a small tax-free allowance of 1k per year for these kinds of sales.
Say, if you buy BTC at 2k and spend it at 2.5k (within 12 months), you technically owe tax on the 500 profit unless it's your only transaction that year and under the 1k limit.
Insane
Do you need to report your private wallet addresses when holding tokens? This is sth stupid Slovenian government is proposing too 😫
Here's the cool part: the folks taxing you are the same ones who devalue the money, which results in bitcoin - and everything else - going up in "value."
Keep an eye on your zaps. Zap only with sats older than a year 😉
Use a tracking software to track your buys! All your bitcoin are in one big pile and for financial purposes the FIFO principle applies. So if the sum of sats that you spent for the laptop is part of the stack that is older than one year, you are not paying capital gains tax. Really not so bad in Germany. The US is far worse at this point in this particular case.
I general I agree. Best would be to stop that tax nonsense altogether 💸
Yes stop the tax altogether 🔥
Dear Tanja… it is exactly the same here in Italy as in almost every European countries! They do not want us to use Bitcoin as a medium of exchange because otherwise they cannot control us anymore! They have to steal as much as possible from us to keep their plans rolling and keep us poorer and captured! The EU is going to fail but it will be a painful time for us because politicians will do everything possible to stay in power as long as they can! Welcome to the new URSS where socialism is the solution, they say! We really need a way out asap!
Paraguay
its sad
you can only try not to reveal to much to them
Ok. So you buy some #bitcoin, say in #robosats, nostr:nprofile1qqszw0ncsrfc6wd8lv3cal8cj4apkke8aqv3y75ys05h2st2p2g035spzfmhxue69uhkummnw3eryvfwvdhk6tcpzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtc7yevpy or from a person on the street, you hold it and do the way back to get some euro and buy any goods. I understand you should pay a tax for the benefit, right?
But on the practical level, who’s gonna go and ask the tax office? I’d really like to know that person, might be the same ones who are registering the chickens 🐓 in Spain.
hat mich gerade an diese Rechnung erinnert...
Ja, dazu fällt mir nichts mehr ein. #steuernsindraub 😅
