In one of the cantons in Switzerland allowed to pay taxes with cryptocurrency

By | September 3, 2020
In one of the cantons in Switzerland allowed to pay taxes with cryptocurrency

From 2021, the option will come into force on a permanent basis, and for now, it is available in a test mode.
In Switzerland, the administration of the canton of Tsug allowed paying taxes with cryptocurrency, namely bitcoin, and ether. This is reported by the local edition of the Crypto Valley Journal on Thursday, September 3.

At the same time, by the end of the year, the payment of taxes in cryptocurrency will be of a test nature, and from 2021 this option will operate on a permanent basis.

Thus, cryptocurrency can pay tax payments equivalent to the amount of 100,000 francs. The payment will be made with the help of the QR code, which the administration will send to the taxpayer’s e-mail.

It should be noted that in the canton of Tsug is the so-called Kryptolina, where about 800 companies operating in the cryptocurrency market have opened offices. In 2016, the local council became the first state administration to accept cryptocurrency as a means of payment. The first payments were limited to the equivalent of 200 francs.

Earlier, hackers legalized a billion through cryptocurrencies. Three people with the help of cryptocurrencies “laundered” 42 million dollars. They now face up to eight years in prison.