Token Daily - Swiss Canton Zug to Accept Taxes in Bitcoin, Ether From Next Year

Citizens and companies in Zug will be able to pay up to $109,000 of their tax bill in either bitcoin or ether from February next year.

25 3

whoyoufoo101 4 months ago

If you sold out at $480 earlier this week, you should be planning to rebuy at these lower levels.

Switzerland is considered very stable relative to other sovereign govts.

fleixx 4 months ago

If you elect sb like Bolsonaro it's not fun to pay taxes, I get it. But in states with working governments most people are fine with paying taxes. It's not theft, it's sharing. If everything is buildt voluntarly only the wealthy will profit from this "public goods".

SwapzoneIO 4 months ago

Good step for adoption. Another use for bitcoin holders in Switzerland!

mezolithico 4 months ago

What a great scam to get rid of your anonymity. Once they link the address to your name they know all you’re transaction related to that address.

BUIDL000 4 months ago

Tax , currency, reserve currency status aside, IMO, All countries should diversify their holding in their financial department unless that country has no intent to participate in global trade.

etabeta1 4 months ago

I think this is very good: if taxes were collected entirely with cryptocurrency, you can know exactly where tax money go.

maninahattt 4 months ago

For a sec I thought they meant ETH Zurich, the uni, until I read the sub name

sarah_Hanson redditor for 2 days 4 months ago

Get lost

Grid-01 4 months ago

Gotta love the Swiss -- at least they are open to exploring this types of payments

official-mitchell 4 months ago

From the article

"A pilot of the tax scheme is set to be trialed in the coming weeks, ahead of the planned February 2021 launch."

Is this Swiss government responsible for creating the pilot? Are they working with vendors in the ecosystem?

altcoin_whale redditor for 7 weeks 4 months ago

Buy something people don’t want so you can sell it to them when they do want it! Invest in $PCN Peepcoin 👀 - privacy is a right not a privilege.

snarfi 4 months ago

I was at an event yesterday where finance minister of Switzerland, Bundesrat Ueli Maurer said "you shluld not should close your eyes from blockchain and cryprocurrencies".

Downtown-Deposit 4 months ago

Only thing left is utility bills and rent. With a crypto card you’ll soon be able to go completely cashless.

Saxi 4 months ago

I wonder if this is more to get your wallet addresses.

andreyttt 4 months ago

“Swiss” sounds cool but it’s not a country. Our country is named Switzerland and the Swiss live here. Swiss is an adjective, not a noun.

CraftyMuthafucka 4 months ago

I know hyping stuff seems like you're helping the cause, but posts like this are the reason why skeptics continue to roll their eyes at crypto.

This is clickbait garbage. You're hurting the cause.

Spl00ky 4 months ago

Let's get a poll to see who will use bitcoin to pay their taxes

TheCurious0ne 4 months ago

Paying taxes is for the people that don't use crypto though.

Spl00ky 4 months ago

So for tax dodgers

WarrenMuppet007 redditor for 2 months 4 months ago

I am willing to pay. I already pay for various stuff using crypto , why not taxes too.

zappadoing 4 months ago

\+1

CryptoMods Bronze 4 months ago

Hello, your post was removed because your account is less than 50 days old or you do not have the required 500 comment karma to make post submissions.

AutoModerator 4 months ago

It looks like this post is about taxes. Please note that Rule #4 does not allow for Tax Evasion. This is a site wide rule and a subreddit rule. Do not endorse, suggest, advocate, instruct others, or ask for help with tax evasion. Do not be coy and sarcastically recommend against it or suggest using a privacy coin in response to an IRS inquiry.

Note: Tax discussion is allowed as long as the above rules are not violated.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

AutoModerator 4 months ago

Bitcoin(BTC) Basic Info: Website - r/Bitcoin - Abstract - History - Exchanges - Wallets

Biases(Updated July, 2019): Arguments For & Arguments Against | CryptoWikis: Policy - Contribute

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

FidelHimself 4 months ago

...from my cold dead hands!

jk, pay your taxes people. it's not theft when other people vote for it. there is just no way we could figure out how to build a road without coercive force.

decentralizedgames 4 months ago

Paying taxes should be a noble thing if your respect your country. It’s the important fact of having it all visible on a public blockchain so say you know your 7 cents, out of your taxes paid to the treasury, along with others portions, goes to a road somewhere, etc. This leaves open discussion for military funding, which would have to be delegated a certain amount and encrypted. Military has always been the siphoning scheme for corruption laundering... sickening. We need to prevent such things.

FidelHimself 4 months ago

>Paying taxes should be a noble thing if your respect your country. I respect the country, not the politicians. Our tax dollars are used to commit all kinds of atrocities so don't shame me with that patriotic bullshit

decentralizedgames 4 months ago

Did you even read it in totality? Or fucking instantly sooking about one portion of it? I clearly state it's evident military and the likes have been utilised to masquerade corruption etc. Settle the fuck down, nobody is shaming anyone by saying the word patriot. Clearly you're searching for a cause, patriotism isn't a bad choice, if done right.

Alexchii 4 months ago

Can someone explain why this was downvoted?

decentralizedgames 4 months ago

Nobody can explain why my stuff gets downvoted, I'm a conspiracy nutter & a right winger in the eyes of the masses. It's too easy to agitate people nowadays so they'll follow you to the ends of the earth.

germantree 4 months ago

Nothing from your comment makes you look like either a conspiracy nutter or a right winger. At least in my opinion...

hrqmonteiro 4 months ago

Isn't one of the purpose of cryptocoins to make yourself free of taxes?

frank__costello 4 months ago

How does owning cryptocurrencies fund roads and schools?

hrqmonteiro 4 months ago

Man you have a SERIOUS problem of statism. You need years of reading and cleansing before you stop believing in this murderous and coercitive institution. And quit with the "MUH ROADS" argument.

frank__costello 4 months ago

Thanks for not answering. Let me rephrase: how does a tax-less, cryptocurrency society fund public goods?

hrqmonteiro 4 months ago

There's no such thing as public goods. "Public" goods are personal goods that were stolen from people, via taxation. The public goods theory is a fallacy (read some Gustave de Molinari) On society you have two kinds of antagonizing classes: The voluntary-producers (market, working class) and the coercitive-non producers (takers), which are the government and all the bureaucrat apparatus. Every worker produces something, and every bureaucrat takes something, and has to produce nothing. Then he goes on with the very thing he took, fund something and says: SEE, THIS WOULDN'T EXIST IF IT WEREN'T BY ME. Then you people applaud and believe this crap. Your notion is based on a opinion in which society only thrives with state. And i get is, is not your fault, i've been there too. The state triumphed on the public opinion, it won his cause, cause it is, for 5000 years, putting on people's minds that it's very existence is necessary and all things can only exist with it. And i know, your next step would ask "but name a society that existed without state thou xDDDD", again, there's another victory of state in your mind, cause brainwashed you to think all things in society only are possible cause of States. If you really put your neurocells to work for a bit you were clearly came to a conclusion that people wouldn't stop paying for roads and schools to exist if some centralized institution ceased to exist. Like, the institution ceases then people start to give up on having these things? Come on, you are better than that. Coercion is immoral, period. Every sytem based on it is evil. The same way people pay for roads and schools now (via taxes, coercitively), people can do voluntarily. And do it better than goverment (like all things on earth, everything that is done outside the state outdoes the state version). The state was a monopoly on many things for centuries, like manufacturing, laws, army, post, mail, banks, paper money emission and so on. And everyday government loses monopoly on some activity and the activity keeps thriving on another way. Private armies are larger than public armies today, almost all mail on world is private, the same with banks, papermoney emission and a lot of bureaucratic activities that once was made just by government. Same thing goes with funding schools and roads. Just stop thinking "but HOW COULD A SOCIETY HAVE ROADS WITHOUT GOVERNMENT" cause that's just lame logic. Also, PS: I literally can't understand why someone is using cryptocurrency if your interest is not on be free from FIAT currency and the things the government impose on you. Like, what the hell? you got all upside down.

hrqmonteiro 4 months ago

I live in a shitty country with a currency that worths nothing, even less if compared to US Dollars. Every day my central bank injects millions of paper money on the country and artificially changes the Interest Rates. The inflation is going on and on forever. Abouth 7 months of my salary on the year, is the equivallent of how many in taxes i have to pay to my government (is serious, search the taxes in Brazil and you will see). I pay over 80% on taxes-over-products, over 60% on importation goods, about 25% on income tax. And some more than a thousand (!) fees on other stuff. Also, in here, there are some nonsense stuff, like, tax you have to pay for having a house (is like a rent, even though you are the estate owner, the tax is called IPVA, you can look through), or a tax you have to pay every year just for having a car, this one is called IPVU. And, as i said, my currency is decreasing in buying-power every hour, cause of the inflation. My public school system literally sucks, so i have to pay for private schools. Same thing with the public healthcare. So, do the maths, i finance a public school which doesn't work and a public healthcare in which people die on the lines waiting for response (again, serious: search these stuff in Brazil). So why i have to fund all things in double? Like, i have to fund a public school AND a private school (since the public school i am obliged to, coercively, via taxes). And same thing to the healthcare. Taxes. Are. Not. Moral. Things. In a tax-less system i could perfecly use just the money i would pay in taxes to fund, just once, the best system for me. Then everyone would do just the same. Actually here in Brazil, there's a calculation. The amount of taxes a very poor family pays on public school is, approximately, 3 times more than the money they would pay on a private school (who works way better). So what's the point here? And the same thing goes with public health, in which the taxes could perfectly fund a private system that would prevent poor people from dying on the lines of the hospital waiting for care. I get that if you live in US, or Europe, you may still have this mentality of "paying taxes is a noble thing, you fund things to people who doesn't have nothing". All right then, if it is a noble thing, then people will keep doing that voluntarily??? What stops you (and them) of doing it? If the system would go tax-less starting TODAY, let's say, what would prevent you of being a noble person and helping people voluntarily? Just do it, then.

fleixx 4 months ago

You can't argue against taxes just because your country fucked it up. Not taxes are immoral, your govrnment is bad, apparently. I'm sorry for your situation but this is an entirely different problrem.

hrqmonteiro 4 months ago

No, no taxes are justified. Come and justify coercion with moral and ethics values. I am waiting.

fleixx 4 months ago

Very easy. The wealthy pay more taxes and therefore help the people in need. Of course you have to set this uo right, without corruption and loopholes. The wealthy remain wealthy, the poorest have a bit more. Then security. If you have no state, everybody is responsible for it's one security. This is an expensive chaos, where only the wealthy are secure, if at all. We all come from there. Then is it moral to take taxes from workers. The thing is, there is no industry without state. Industry needs stability and this is only possible with longterm security. So, first there was a state. And then productive industries evolved. Who is the state? It's everybidy. So who pays the state? Everybody. But again, of course, you can missmanage a government. Absolutely.

hrqmonteiro 4 months ago

First, wealthy already pay more taxes, it has ever been like this since the genesis of the modern state. Since taxes are progressive. Second, the "more taxes to the wealthy" has been debunked economically many, many times. The more you tax the job creators (employees), less jobs you are creating, cause, since everyone is moved by profit, it they have to pay more to operate, they will cut costs doing layoffs, this is basic principle. So you create a loop. You tax more the wealthy to supposedly "give more to the poor", but poor people also depend on jobs, since they don't have the knowledge about savings and investments. So you screw them a little more by creating disemployment. Also, your solution to poor people is paying taxes? Like, seriously? You think "taxing more the wealthy" will make the poorest have a bit more? I didn't knew the taxes went to poor people, i thought it went to government, that dissolves the money in more than a thousand ways, and just some of them are actually going to welfare. You think poor people are better paying taxes and paying fees on products than if they kept one hundred percent of their paychecks and spend them on what they really needed? What a bold statement. And last, about the security: you don't have security WITH the state, it simply failed, and the problem when you monopolize this is that you don't have another option. Like, you live in a bad neighborhood that suffers from robbery, murders and stuff. And you call the police everytime and it doesn't help at all? So what do you do? Fuck you, right? Are you a black person who suffers discrimination and see all your friends being murdered by police brutality? Fuck you, right? You have just the state option. And you are condoning it? You like it this way, a monopoly? I don't get how people think all monopolies are bad but when you talk about the state monopolies they go like "heeey, whait a minute, that's actually the only way". Same way with courts, and so on. Government is not necessary for the fulfillment of things. There are plenty options. The thing is, when you compare a coercive force (state) vs a voluntary force, the coercitive one has an advantage for its own, is that it can force people to accept it. So from the dawn of modern states, the states are forcing you to accept it. So we have centuries of people "learning" how to accept "how the state is the only option ever", even though we really are not capable of trying other means, because what? Exactly, cause if you try it, the state comes with it's monopoly of force and destroys you.

fleixx 4 months ago

decentralizedgames 4 months ago

All those living in Peurto Rico are likely only there because the US Fed doesn’t disclose tax expense revenue spending, post-collection, it’s a fucking fraud. Paying taxes should be a noble thing if your respect your country. It’s the important fact of having it all visible on a public blockchain so say you know your 7 cents, out of your taxes paid to the treasury, along with others portions, goes to a road somewhere, etc. This leaves open discussion for military funding, which would have to be delegated a certain amount and encrypted. Military has always been the siphoning scheme for the corruption laundering... sickening. We need to prevent such things.

hrqmonteiro 4 months ago

This is actually a joke, right? Coercion is immoral, inefﬁcient, and unnecessary for human life and fulﬁllment. Taxation is theft. All of the things that are build with coercive money could (and would) be created with voluntary money.

zappadoing 4 months ago

the main point here was to force the cantonal banks to accept payments from crypto companies. They would refuse a payment from Bity or BTCS to your own account, but can not refuse a payment to the state's account. And honestly I find it really a good way to force adoption.

winkerback 4 months ago

Even though its a clickbait title, is there a reason why most new Bitcoin developments and degrees of acceptance seem to be in Europe?

RichKille 4 months ago

Because powers that be want to keep control.

TheCurious0ne 4 months ago

Because US is going down the drain.

MaxStrength_Capsule 4 months ago

Waste of screen time

See all

Trending this week..

Appraisal games and the NFT liquidity problem

Ethereum VR Meetup!

How emerging markets are approaching crypto

TokenSoft

TokenSoft is the volume leader in compliant token sales.
Dharma

The open protocol for tokenized debt.
Coinbase

A secure online platform for buying, selling, and storing digital currencies.
Lightning

A second layer, off-chain scaling proposal for bitcoin.
Coda (o1)

Ensuring the blockchain is inexpensive and accessible to everyone.
0x

An open protocol for decentralized exchange on the ethereum blockchain.
See all

Stay up to date on all things crypto and blockchain

Trending this week..

© 2021 Token Daily

Stay up to date on all things crypto and blockchain

Trending this week..

© 2021 Token Daily

🙌 Login to Token Daily