Daily Tax Report: International

Berlin Bitcoin Ruling Spurs Industry to Seek Tax Clarity

Nov. 7, 2018, 5:14 PM

Tax advisers are telling their clients to begin new cryptocurrency ventures like ATMs and currency exchanges—previously impossible—in a bid to force lawmakers to reconcile different income and value-added tax treatments.

The move to exert pressure on legislators comes amid a Berlin court ruling stripping Bitcoin of its status as a type of currency, underscoring contradictions in regulating and taxing digital currencies in Germany.

Attorneys told Bloomberg Tax they are already advising clients energized by the ruling to pursue ventures that Germany’s Federal Financial Supervisory Authority (BaFin) would have previously banned.

“Now I’d advise clients when they start on an exchange...

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