Crypto earnings

[MisterCryptoNerd]

Im located in germany

Back in 2016-2017 i was selling digital goods and was using a Friend of mine to receive it
He gave it to me in BTC
He paid taxes on everything and the BTC were bought via coinbase

I have not touched my btc since then and i am not sure how easily it is for me to cashout the btc's

In germany the crypto should be tax free

 

[CyprusLawyer101]

Have you checked whether the fact that you recieved the BTCs as part of a commercial transaction ( selling digital goods) still gives you access to the 1 yr holding exemption in Germany?

 

[MisterCryptoNerd]

Have you checked whether the fact that you recieved the BTCs as part of a commercial transaction ( selling digital goods) still gives you access to the 1 yr holding exemption in Germany?

Yes it still is
My issue is I never paid taxes on my initial profit?

 

[CyprusLawyer101]

Yes it still is
My issue is I never paid taxes on my initial profit?

Thats what I meant. You have performed a commercial transaction which renddrs certain taxable profit. This you should examine.

 

[MisterCryptoNerd]

Thats what I meant. You have performed a commercial transaction which renddrs certain taxable profit. This you should examine.

What’s the best thing I should do

Thats what I meant. You have performed a commercial transaction which renddrs certain taxable profit. This you should examine.

What would be the best thing to do

 

[uplana]

What would be the best thing to do

You should search the forum for similar threads

Crypto-to-crypto transactions are not taxed in Poland & Germany!

I can only agree with this advise. Don't be foolish and do business without to have a LTD. OP is asking confirmation if in Cyprus stablecoins like USDT or USDC are tax exempt when traded for other cryptocurrencies, and that should be the case as stablecoins are cryptocurrencies; it seems that...

www.offshorecorptalk.com

Problem solved, congrats.

 

[CyprusLawyer101]

What’s the best thing I should do


What would be the best thing to do

You will need a German tax professional to confirm your tax position. Other than that , if you wish, kindly let me know and I can PM you to discuss this.

 

[MisterCryptoNerd]

You should search the forum for similar threads

Crypto-to-crypto transactions are not taxed in Poland & Germany!

I can only agree with this advise. Don't be foolish and do business without to have a LTD. OP is asking confirmation if in Cyprus stablecoins like USDT or USDC are tax exempt when traded for other cryptocurrencies, and that should be the case as stablecoins are cryptocurrencies; it seems that...

www.offshorecorptalk.com

Problem solved, congrats.

sadly no
that thread just led me to more questions