German government relieves capital gains tax on bitcoin positions
Bitcoin transactions in Germany have been made exempt from capital gains tax after one year. In Germany, assets such as stocks and bonds are subject to a 25% capital gains tax (plus a solidarity surcharge) and a state-dependant church tax. With the new decision, bitcoins having been held for more than a year will not be subject to these charges. According to German news site Die Welt, financial expert Frank Schaeffler stated: "It is good that investment in bitcoins is finally [a] legal certainty. Private profits from the sale of bitcoins are tax-free after one year". Germany has long faced....
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