Montag, 14.10.2024
Cryptocurrencies and the tax office
Awareness-raising
from
Markus SchmuckLawyer
Specialist in criminal law
Give me a call: 0261 - 404 99 25
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Cryptocurrencies, especially Bitcoin, are on everyone's lips. One may or may not argue about the nature or not nature as a "currency". At least according to prevailing opinion, cryptocurrencies are seen as an object of speculation. Consequently, criminal defense lawyers then read the following in the files:
(...) the tax office for criminal tax matters and tax investigations (STRAFA-FA) B. has, on the basis of a collective request for information dated May 3, 20xx, sent to xxx Deutschland AG received data on various taxpayers from across the country for the years 2015–20xx. The request was for data (including changes over time) on all taxpayers who traded xxx on the trading platform "xxx.de" in the years 2015-20xx and whose total debit and credit volume exceeded €50,000 in any of the three years. The reason for this request was that speculative gains can be made by buying and selling xxx within the holding period of one year in accordance with § 23 (1) sentence 1 no. 2 sentence 1 of the German Income Tax Act (EStG), which are taxable as other income in accordance with § 22 no. 2 EStG. 22 No. 2 EStG as other income. The criminal police officer B. was provided with data on a total of 4,474 taxpayers (…)."
After a single disclosure of information, 4474 new criminal investigations were initiated. It is no longer possible to file a self-report that avoids punishment after the offense has become known. This leads to tax assessments for the evaded taxes and criminal convictions for tax evasion. As tempting as the "profits" with cryptocurrencies may seem, it is worthwhile to check your tax liability at an early stage and, if necessary, to consider a voluntary disclosure in order to avoid criminal proceedings.
The statements represent initial information that was current for the law applicable in Germany at the time of initial publication. The legal situation may have changed since then. Furthermore, the information provided cannot replace individual advice on a specific matter. Please contact us for this purpose.