Steuern auf Krypto – ALLES was DU wissen musst!

Summary

This video discusses the complexities of cryptocurrency taxation in Germany, particularly focusing on the regulation of losses and capital gains. It highlights recent legal challenges and changes, such as the loss offset limitation, and the impact of the 2024 Tax Act. Experts debate how tax regulations may evolve, with a particular focus on clearer guidance regarding NFTs and other digital assets. There’s also a concern about retroactive taxation, with experts arguing that such measures may face constitutional challenges, as seen in previous instances. The discussion emphasizes the need for more clarity and stability in the crypto tax landscape.

Takeaways

• 😀 The loss carryforward limitation for speculative trading in Germany was problematic, leading to absurd tax bills for investors with large positions.
• 😀 A significant change in the 2024 Annual Tax Act in Germany now allows for a fairer offset of gains and losses from futures contracts.
• 😀 In 2021, a situation where 10 million euros in gains and 10 million euros in losses were taxed with only 20,000 euros being considered led to legal disputes.
• 😀 The German Federal Constitutional Court was involved in legal challenges related to the loss carryforward rule, and recent legal amendments have now addressed the issue.
• 😀 Germany is striving for greater regulatory clarity in the cryptocurrency sector, particularly with frameworks like MiCA (Markets in Crypto Assets).
• 😀 Despite efforts to simplify, the regulatory environment for crypto taxation in Germany will remain complex, but more clarity on NFTs and other assets is expected.
• 😀 Austria implemented retroactive changes to its cryptocurrency tax laws, which raised concerns about the fairness and constitutionality of such retroactive amendments.
• 😀 The speaker believes that retroactive tax changes in Germany would face significant constitutional challenges, as there is strong legal protection against such changes.
• 😀 Historical precedents in Germany, like the change in property sale regulations in 1999, suggest that retroactive tax laws, if implemented, could face serious legal scrutiny.
• 😀 The speaker is praised for their ability to explain complex tax matters in simple, understandable terms, making them accessible to laypeople.

Q & A

What is the primary issue discussed in the transcript regarding cryptocurrency taxation?

The primary issue is the complexity and fairness of cryptocurrency taxation, particularly how certain regulations can lead to unexpected tax liabilities, like the case where large capital gains and losses were not properly offset, causing substantial tax burdens.

How does the loss compensation limitation impact small-scale cryptocurrency traders?

The loss compensation limitation means that even if small-scale traders face significant losses (e.g., €10 million in one trade), only a small portion, such as €20,000, is eligible for tax offset. This leads to a disproportionate tax burden, as the larger loss is ignored.

What changes did the new tax law in 2024 bring to the cryptocurrency taxation rules in Germany?

The 2024 tax law changes reversed the previous limitation, allowing capital gains and losses in cryptocurrency trading to be offset more fairly. For example, a €10 million gain and a €10 million loss in derivative trading would now result in a net of €0, without being taxed.

What was the outcome of the legal case related to the loss compensation issue?

The case was taken to the Federal Constitutional Court and was ultimately resolved with the new law, which removed the previous restrictions, allowing a more reasonable approach to offsetting gains and losses in cryptocurrency trades.

What is the speaker's outlook on the future of cryptocurrency taxation in Germany?

The speaker believes that while the tax environment will remain complex, there will be more clarity in the coming years, especially with regulatory updates and potential changes to the treatment of assets like NFTs. Overall, the taxation process is expected to become more predictable.

How does the speaker feel about retrospective changes to tax laws, such as those made in Austria?

The speaker expresses strong reservations about retrospective tax changes, considering them legally problematic and a breach of trust for taxpayers. They believe such changes could be legally challenged in Germany.

What legal principle does the speaker cite regarding retrospective tax law changes in Germany?

The speaker refers to the constitutional principle of 'protection of trust,' which ensures that individuals can rely on existing laws and should not be subjected to retroactive changes that could negatively affect their financial decisions.

What regulatory bodies or laws are mentioned as part of efforts to clarify cryptocurrency taxation in Germany?

The speaker mentions the Mika regulation and DCK8 as efforts to regulate the cryptocurrency market and provide more legal clarity, particularly concerning NFTs and other emerging crypto assets.

What does the speaker suggest could happen in the near future regarding the BMF's stance on cryptocurrency taxation?

The speaker suggests that the BMF (Federal Ministry of Finance) might update their 2022 guidance soon, potentially providing more clarity on the taxation of cryptocurrencies and related assets like NFTs, making the tax environment more predictable.

Why does the speaker believe that tax experts often fail to communicate effectively with non-experts?

The speaker believes that many tax experts have deep technical knowledge but struggle to communicate it in simple terms that non-experts can understand. They compliment the interviewer for being able to explain complex topics clearly and understandably.