Bitcoin boom: 720 million euros additional tax revenue in 2017
according to conservative estimates of the Blockchain Center the Frankfurt School (FS) of finance & management is the German State for 2017 take additional taxes amounting to €726 million by trading with Kryptowährungen. This corresponds to approximately 1% of the total personal income tax from the year 2016.
Also the Treasury will benefit from the large media attention of the Bitcoin in the next few months. According to a current estimate at least 726 million euros should be taken for the previous year more tax revenue. Based on this estimate is the amount of all blockchain-based assets amounting to EUR 460 billion in 2017. The share of German investors should be doing about 3.5%. In addition the conservative assumption that only 15% of the increase in value be realized taxable income. The result is 2.42 billion euros, which in addition must be taxed by the investors. At an average tax rate of 30% approximately 726 million euros calculated additional tax revenues, as it has calculated Blockchain Center FS.
Who has successfully traded before the turn of the year at the enormous price increases with Kryptowährungen, must at the latest be very careful for the next tax return. Who not fully declared its revenue, can be relatively easily punishable due to the enormous fluctuations and therefore big profits. The German State is responsible for the current state according to the authors. This is now required, promptly “ clear framework for the taxation of Kryptowährungsgewinnen to create “.
The problem: In relation to the tax treatment, there are to date still no final legal classification of blockchain-based assets. For many taxpayers, this caused considerable uncertainties. At a share of the personal income tax of 1% from the year 2016 is without a doubt a given “ urgent action “, such as Klaus Himmer and Philipp Sandner warning hold in their study of .