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The German Bundestag rejects proposal to increase cryptocurrency taxes
Odaily Planet Daily reports that the German Bundestag Finance Committee has rejected the Green Party's proposed cryptocurrency tax reform.
The proposal originally aimed to eliminate the policy of exempting capital gains tax on sales of cryptocurrencies held for more than one year. Under current German law, individuals who sell crypto assets after holding them for more than one year are exempt from capital gains tax.
The Green Party believes that crypto assets should be subject to the same tax rules as other investment assets, but opponents pointed out that the proposal could result in higher tax burdens for crypto investors compared to regular stock investors. The Green Party estimates that canceling the relevant tax exemption could increase Germany's annual tax revenue by approximately 11.4 billion euros. (Cryptopolitan)