4D·

What can be done about the abolition of the one-year time limit in Germany?

If you think the SPD's plans regarding the $BTC (+0.38%) year deadline or the other tax increases as stupid as I do, help out and write an e-mail to the MPs in your constituency.

My e-mail just went out (feel free to copy it).

"Dear [name],

I am writing to you today in your capacity as my directly elected representative in the German Bundestag. My request concerns the currently discussed abolition of the one-year tax-free period for profits from trading Bitcoin and other cryptocurrencies, which is currently being demanded by the SPD as part of the coalition negotiations.

The abolition of this tax-free one-year period would place a heavy financial burden on many investors and make sustainable, long-term investments in innovative technologies more difficult in particular.

Internationally, we are observing that countries such as the USA and our neighboring country, the Czech Republic, are creating attractive tax and regulatory frameworks to promote innovation in the field of digital assets and cryptocurrencies. If Germany were to abolish the annual tax deadline, there would not only be a threat of a weakening of national innovative strength, but also a migration of capital, talent and start-ups to countries with more crypto-friendly framework conditions.

In addition, investors in highly volatile assets such as Bitcoin and other cryptocurrencies already bear considerable risks - and that with capital that has already been taxed. I find it extremely unreasonable that the state is also demanding almost a third of the profits, especially in view of the fact that any losses remain entirely with the investor.

Instead, our common goal should be to establish Germany as a leading location for innovative financial technologies through tax incentives and a clear regulatory framework. I therefore ask you to actively campaign within your parliamentary group and in the Bundestag to retain the existing one-year tax period and to refrain from increasing the tax burden.

Help position Germany as an attractive location for innovation, long-term investment and forward-looking technologies.

Thank you very much!

Yours sincerely"

Even if it probably won't help, it's worth a try in my eyes. The MPs should realize that the population is unhappy with the proposals.

The same of course also applies to all the other tax increases. The fact that the will of the voters will no longer interest these colleagues after the election is another matter. But I also think it would be wrong to simply do nothing.

Thank you!

https://www.blocktrainer.de/blog/spd-fordert-abschaffung-der-jahresfrist-was-du-nun-tun-kannst

www.blocktrainer.deBitcoin- & Krypto-Steuern: SPD fordert Abschaffung der Jahresfrist - DAS musst DU jetzt tun!

38 Comments

Ph1l1pp@Ph1l1pp

Socialism...

Edit: Will lead to more emigration from Germany and be a net loss in the long term. Germany is doing away with itself.

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McZed@McZed

@Ph1l1pp That can't really be assumed now. These figures of 230,000+ emigrations a year because everyone thinks DE is so shit, which are currently floating around here, are only half true.
Almost 200,000 return every year. Only around 15% give dissatisfaction as the reason, the majority leave for family reasons or because their job demands it.

Especially as I think the community here gives a false impression of how many crypto investors there are in Germany. Even the equity ratio is low.

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Ph1l1pp@Ph1l1pp

@McZed Even if the figures for emigration by private individuals are correct (I don't feel like checking them), we are seeing an exodus of companies, especially in the energy-intensive sectors - and what reaction do you expect from higher taxes, which particularly affect the country's rich? I expect a similar reaction as in one of the Scandinavian countries (no idea which one it was) when people from the Scandinavian country appeared overnight among the top 10 richest people in Switzerland... BWL Henning has made a video about this (wealth tax)

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Konstantin@Konstantin85

@McZed companies are disappearing. Others are raising prices and suffering from chronic staff shortages. The newly arrived skilled knife workers contribute nothing to GDP.

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DaMerkl@DaMerkl

Mhm... I kind of disagree. I have shares and Bitcoin myself. Why should I pay tax on my share profit and not on my crypto profit 🤔 Sounds "unfair" at first. I can therefore understand the demand and would have no problem with it. I would rather welcome a general speculation period of 10 years or more, for example. No matter whether crypto, shares or real estate.

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Stefan21@stefan_21

@DaMerkl General speculation period: Gladly.

But please differentiate. If a company goes bust, there are insolvency proceedings and investors often get at least some of their money back.
With crypto, on the other hand, you are simply out of luck - total loss, no protection whatsoever. In addition, you are using income that has already been taxed and there are no tax advantages in the event of a loss, as is the case with shares. You can also suffer a total loss at any time due to hacks or technical errors.

The speculation period also applies to commodities, for example. This rewards savers and penalizes traders.

In my opinion, it would therefore be unfair to treat crypto the same as shares or ETFs for tax purposes. The speculation period should remain in place.

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DaMerkl@DaMerkl

@stefan_21 I think many Wirecard shareholders would disagree with you that you can still get money from company insolvencies 😅.
Theoretically yes, practically hardly feasible.

My share investment is also already made from taxed money.

That you can make a loss due to technical errors: Isn't that the argument in favor of Bitcoin? Everyone is responsible for themselves and their Satoshi's. If you lose them, you're out of luck 🤷🏻. I just don't need a bank as a babysitter.

Commodities: that's why I would simply be in favor of a uniform speculation period and be done with it.

I think the higher risk in crypto investments should be rewarded by "the market" with higher potential returns. It has always been true: higher risk, higher potential return. The state should not intervene here and distort the mechanism with any tax breaks or extra taxes.

But as I said, my personal opinion 😀

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Stefan21@stefan_21

@DaMerkl I was a Wirecard shareholder myself😅 but there are insolvency proceedings for companies. But that doesn't mean that you don't bear any risk - you just bear a lower risk than with crypto.
Basically, when you buy shares, you acquire a stake in the company and are therefore within the respective legal framework.
Bitcoin is different. It is more comparable to investing in a commodity. I therefore think it is wrong to equate the investments.

Of course, this is an argument in favor of Bitcoin, but it shows that you can't compare shares and Bitcoin with each other :)

Yes, I would go along with a uniform speculation period. I don't go along with "this is taxed too high by the state and the other is not, therefore the other should be taxed equally high". 2x wrong does not suddenly become right.

Yes, the state should not intervene - but it would do so if it suddenly taxed everything at 30% regardless of the holding period. Bitcoin as a means of payment would thus be de facto put out of business.
The state should generally stay out of it - my opinion :)

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Matthias@Harry64

@DaMerkl I take a similar view. This special status of crypto cannot be conveyed (also applies to gold etc.). However, there would then of course also have to be "loss pots" etc.
What I personally think would be good would be a 10-year period. This would take precautionary measures into account but would not support speculative vultures.

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Konstantin@Konstantin85

@DaMerkl It is unfair if the state cannot cope with 1000 billion in revenue and yet nothing works. It's unfair if you spend 40% of your salary on nonsense.

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Dividende > Zinsen@GoDividend

I think it's good

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Alexander_Bitcoin@Alexander_Bitcoin

https://afdbundestag.de/spd-todesstoss-fuer-bitcoin-verhindern/

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Lukas1000@Lukas1000

@Alexander_Bitcoin Leave it alone. You don't need to support fascists, sexists, racists and people who want to ruin Germany economically and socially. And their political content is not worth the server power they waste.

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Soprano@Soprano

@Lukas1000 Very strong, Lukas. Do it all!

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Alexander_Bitcoin@Alexander_Bitcoin

@Lukas1000 You don't have to look at the article. Everyone has their own opinion. For me, the AfD is the only electable party in Germany.

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Lukas1000@Lukas1000

@Alexander_Bitcoin that says a lot about you and very little about Germany or the other parties. The AfD will clearly ruin Germany (if it ever comes to power). You just have to go through their election program with a basic understanding of economics.... Not to mention that the AfD is against our constitution and articles in international law... It's nice and sad when you vote for fascists

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Alexander_Bitcoin@Alexander_Bitcoin

@Lukas1000 To be honest, I read through the election manifesto and I didn't find any racist content in any of the passages. And I also agree with most of the content.

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Lukas1000@Lukas1000

@Alexander_Bitcoin Abolish the right to asylum, against human rights and the Basic Law. Consistently turning people away at the borders is against EU law, the Basic Law and the UN Human Rights Charter. Not to mention the fact that these points cannot be implemented logically and realistically anyway. But you are right. The AfD has learned from its predecessors, such as the NPD, and has formulated its election program in a much more liberal way. That is true. However, it does not change the content or the goals of the party, which have often been formulated verbally and clearly enough by various party leaders. Here are a few reasons why the AfD sucks:
1. the AfD is massively supported and promoted by Russia as well as fascist forces from abroad such as Trump (who is currently abolishing the separation of powers in the USA, trampling on the constitution and damaging the country economically with his course). Both, btw, two governments that don't give a fuck about their people and are currently doing massive damage to their countries.
2. the AfD is significantly influenced by racist and misanthropic ideas in its directional decisions (just listen to 2-3 speeches and compare them with the Basic Law and human dignity... It's easy)
3. the AfD deliberately uses false information and spreads mistrust in society in order to divide and radicalize it. A prime example is the 'hundreds' of millions donated for cycle paths in Peru 🤮
4. the AfD is attacking our press and freedom of opinion by deliberately defaming a wide variety of media that do not agree with their opinion. Btw Picture book fascist politics (you can also see this very well in the USA right now)
5. the AfD directly and indirectly incites violence against and rejection of our constitutional state by directly questioning political legitimacy and dehumanizing various political opponents... (There are so many examples, I think I can save them here)
6. the AfD propagates a completely outdated ethnic image of women which is not only openly sexist but also economically completely idiotic.
7. the AfD stands pretty much directly for a policy for the rich and super-rich. (This is also pretty much in the election program (just compare the tax relief)) Every normal citizen who is not in the top 5% would simply lose a lot of quality of life.
8. the AfD wants to seal off Germany. (e.g. a complete stop to immigration, withdrawal from the EU, withdrawal from NATO, etc.). PP) A tactic that has not worked once since globalization and would also cost us our economic prosperity, as we would be trying a complete ghost ride in the world economy.
9) The AfD is openly anti-science. Which, by the way, is in itself an absolute knock-out argument against this party, because without science we would still be living in the Stone Age. Examples here are the denial of climate change, the denial of positive aspects of migration on our economy and our social system, etc. PP.
10. the AfD endangers German security. This is quite obvious from their flirting with Russia or their desire to leave the EU and Nato.

Shall I give you a few more reasons why voting for the AfD is pretty much the stupidest thing you can do unless you're super rich and don't give a damn about Germany?

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Alexander_Bitcoin@Alexander_Bitcoin

@Lukas1000 I'll let your argument stand. However, I have formed my own opinion. You choose what you think is right. I'll make my contribution. Kind regards 😊

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Soprano@Soprano

I can already see your first mistake ... Fortunately, there is no SPD MP in my constituency.

After all, we're also talking about a 16% party here

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Stefan21@stefan_21

@Soprano It's best to contact the candidate with a direct mandate in your constituency :)
For me it's one of the CSU😅

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Artiskon@Artiskon

I also sent my letter straight after the video.

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Cro@Cro

It's always the same in Germany. The people vote and the politicians think they can do what they want. Without the actual voice of the people!

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Rosi@RealRose

Hop and malt are lost, because you want to make a real profit.

Then it's better to buy more quickly until it changes.

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Solitair@Solitair

As if they care. They think we're toddlers and that they're our legal guardians.

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Stefan21@stefan_21

@Solitair I agree. But I'm always a friend of trying something hopeless rather than doing nothing at all😅

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TaxesAreTheft@TaxesAreTheft

Unfortunately, emigration is the only long-term solution

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Stefan21@stefan_21

@TaxesAreTheft Unfortunately true

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TaxesAreTheft@TaxesAreTheft

@stefan_21 You might not think that about me, but the thought of emigrating really hurts my heart. But unfortunately you have to pull the ripcord at some point.

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Stefan21@stefan_21

@TaxesAreTheft Ditto, I feel the same way. Leaving family and friends behind would be really bad. That's why we're not actively considering emigrating just yet. But if things go on like this, it will be inevitable. The development here is really frightening.

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Konstantin@Konstantin85

You can write what you like, but no socialist cares. This whole party cartel is simply an absurdity.

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Markus@_xempex_

I have written to the CDU MPs in my federal state, hoping that it will help and that DE will not be dragged down even further by the comrades:

it was with great concern that I learned of the SPD's plans as part of the coalition negotiations to increase the withholding tax on capital gains to 30% and abolish the one-year holding period for cryptocurrencies. These measures will particularly affect private investors and small savers who want to provide for their own future and retirement through long-term investments

An increase in the flat-rate withholding tax without extending the tax-free allowances is a punishment for all those who take responsibility for their retirement provision. Capital income is already heavily burdened by the existing flat-rate withholding tax, while inflation-related losses in value are not taken into account. In the long term, a further increase will further reduce the incentive to accumulate assets responsibly. Fair taxation of capital investments will encourage citizens to build up their own reserves and act in a financially responsible manner. Such a system will also reduce the burden on the state in the long term, as fewer people will be dependent on social benefits in old age. Those who save for the future today not only look after themselves, but also contribute to the stability of the welfare state.

The abolition of the holding period for cryptocurrencies would also mean significant tax uncertainty for investors and considerable additional work for investors and tax authorities. Many private investors use cryptocurrencies as a long-term form of investment to build up assets. The previous regulation with a one-year holding period has created incentives to invest for the long term instead of engaging in short-term speculation. Retrospective taxation without a holding period would not only hinder private wealth creation, but would also result in a considerable amount of bureaucracy.

I therefore urge you and your party, the CDU, to oppose these tax tightening measures and to advocate fair taxation of capital gains and cryptocurrencies in the coalition negotiations. Private pension provision must not be made unattractive by tax measures.

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