Ruling of the BFH finally here

The long-awaited ruling of the Federal Fiscal Court is finally here. It is the first supreme court ruling on questions relating to taxation in the area of crypto.

Today, in a ruling dated 28 February 2023, file number IX R 3/22, the Federal Fiscal Court decided that, on the one hand, cryptocurrencies represent an economic good and, on the other hand, there is no structural enforcement deficit in the taxation of trading in cryptocurrencies.

Basically, this means that, as already advised by the vast majority, the sale of previously acquired cryptocurrencies against fiat or other cryptocurrencies leads to a private sale transaction, the profit or loss of which is taxable in the case of acquisition and sale within 12 months.

This also establishes that, at the latest now, no one can plead, especially not under criminal law, that it was assumed :

-it was only an „internet currency“ that could not be taxed

-there is no tax liability until the currency is exchanged for euros.

-there is no tax liability at all because none of this is comprehensible.

Those who do not act now and declare or correct their income from crypto activities risk criminal tax proceedings with sometimes severe penalties.

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