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[SCAMEXPOSER]

Switzerland Canton of Zug has announced that as from next year February which is their tax season, bitcoin and ether will be accepted for tax payment.

The tax payers can pay up to $109,900 for tax bills but partial payment will not be accepted. Those who will be willing to pay via the new payment method will bear the risk, they will visit the cantonal office for QR code for payment.
The Zug department of financial is in collaboration with bitcoin Suisse for effective implementation of the policy and payment.

 

[Josemendez]

Switzerland Canton of Zug has announced that as from next year February which is their tax season, bitcoin and ether will be accepted for tax payment.

The tax payers can pay up to $109,900 for tax bills but partial payment will not be accepted. Those who will be willing to pay via the new payment method will bear the risk, they will visit the cantonal office for QR code for payment.
The Zug department of financial is in collaboration with bitcoin Suisse for effective implementation of the policy and payment.

This is good news . The tax department must have monitor Bitcoin and have seen a way they will maximize their profit upon accepting it as payment method . Hope they have also solution to fight off its volatile nature

 

[Niftyicon]

This seems so futuristic and I am glad it has started. The idea of paying taxes in bitcoin sounds way better than purchasing soda or coffee with it.

 

[Wisdom01]

Well this is cool atleast they are adding more useage to the coin , but i hope can they have a way to bypass the fluctuations of the coin so they won't lose much

 

[Brain]

This is good news . The tax department must have monitor Bitcoin and have seen a way they will maximize their profit upon accepting it as payment method . Hope they have also solution to fight off its volatile nature

Yeah I'm happy about this making tax payment with bitcoin that a huge one. I hope others follow suit to help create the needed awareness for bitcoin

 

[SCAMEXPOSER]

The earlier the better for countries to come in because people are running Crypto currencies transactions despite their restrictions and people begin to boycott bank transfer s.

 

[Josemendez]

The earlier the better for countries to come in because people are running Crypto currencies transactions despite their restrictions and people begin to boycott bank transfer s.

Yeah ,and they are losing both ways because people avoid bank charge and also tax on their cryptocurrency transaction . The earlier they think about this , the better for them

 

[Brain]

Yeah ,and they are losing both ways because people avoid bank charge and also tax on their cryptocurrency transaction . The earlier they think about this , the better for them

That's humans bfor you even the rich are not left out in this any way to avoid any form of payment will be adopted by a them

 

[sagefave]

It is a welcoming thought of the government considering how valuable crypto investments have proven to be over years. Hopefully the government is planning to build its own crypto reserve

 

[SCAMEXPOSER]

It is a welcoming thought of the government considering how valuable crypto investments have proven to be over years. Hopefully the government is planning to build its own crypto reserve

This could be true because if there is eventually global Crypto currencies acceptance the government would have had enough in the cofer which is safer.

 

[hardMoney]

such a great move and development in bitcoin community.. anyway i can't wait to see this development too in my country.

 

[Brain]

such a great move and development in bitcoin community.. anyway i can't wait to see this development too in my country.

Same here I'm waiting for the duplications of this same thing in my country especially my locality. It will create more awareness to people offline that str yet to be aware of bitcoin

 

[LutherKing]

Its good but these taxes do have the high transactions cost attached to it as well to be honest .

 

[SCAMEXPOSER]

Its good but these taxes do have the high transactions cost attached to it as well to be honest .

I don't think so because if the transaction volume is huge the little percentage cut easily adds up and become something huge.

 

[LutherKing]

You are right but this work as efficiently for only large transactions and not the small ones since the fees have become quite high recently

 

[Simba4us]

Awesome. I strongly believe there's no better time to implement this, other than now. I wish those in charge of finance in my country will see this.

 

[Emmanuel24]

It's good. This serves as additional to government revenue, but it's a big responsibility on users of bitcoin because it added to their expenses.

 

[gammarays]

This is very good and shows the level of acceptance of crypto currency. I think crypto will be used across various financial institutions both private and public.

 

[Corzhens]

Take note that the news said Swiss Canton of Zug will accept Bitcoin for tax payment next year. That means we have to wait for the next year's tax season to know if that news is true. Pardon me for this comment, no offense meant. It is just that I have been reading too many pronouncements about crypto coin as mere plans or statements that have not been verified.

 

[gammarays]

Take note that the news said Swiss Canton of Zug will accept Bitcoin for tax payment next year. That means we have to wait for the next year's tax season to know if that news is true. Pardon me for this comment, no offense meant. It is just that I have been reading too many pronouncements about crypto coin as mere plans or statements that have not been verified.

Yes we have to wait and hope they really do as they said. Maybe they're trying to test run the system of using Bitcoin in place of normal currencies. Most organisations do that before implementing.