Private Sales Transactions with “Virtual Currencies” - The Emperor’s New Clothes? - Basics (Part I)

The tax authorities have issued a statement on many legal issues that were unclear for a long time with regard to the taxation of crypto assets in a BMF letter dated May 2022. This initially provides more legal certainty for taxpayers. However, the implementation in the procedural practice of the tax offices is often insufficient and does not always comply with the requirements of the Tax Code. Together with our colleagues Prof. Dr. Jörg Andres and Dr. Steffen Kranz, this two-part article aims to highlight the weak points in the taxation procedure and appeals for improvements.