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And now the message to all businesses in Germany: If you accept Bitcoin, you’re going to have to charge VAT. Which will have to be collected at the same time in cash, and pretty much eliminate the currency as a medium of exchange. I suppose some businesses could attempt to pay those taxes themselves, but that won’t last very long.
And good luck filing your taxes for mined bitcoins; what value you apply to the mined currency will certainly be well out of date by the time your taxes are processed.
It was just a matter of time. Germany won’t be the last.
The Power to tax is the power to destroy.
Next up will be the taxes on the treasures you find in WoW.
Ich bin ein Bitcoiner
Was wondering why the jump in their price. Good news, IMO. Next, maybe LiteCoins...