Swiss canton Zug now accepts bitcoin and ether for tax payments
The canton of Zug, one of the Swiss Confederation member states, has begun accepting bitcoin (BTC) and ether (ETH) for tax payments after initially announcing support last September.
Kanton Zug has partnered with Bitcoin Suisse for the initiative, meaning the Swiss crypto firm will convert residents' BTC and ETH tax payments into Swiss Francs for the authority.
The process of paying taxes with crypto appears to be simple. Residents have to scan a QR code and pay from a crypto wallet of choice. The cap for such payments is up to CHF 100,000 (about $110,000).
Swiss city Zug also accepts bitcoin for tax payments via Bitcoin Suisse since 2016. The Swiss municipalities of Zermatt and Chiasso also support the cryptocurrency for smaller tax payments.
https://www.theblockcrypto.com/linked/95270/swiss-canton-zug-now-accepts-bitcoin-ether-tax-payments?utm_source=coinbase&utm_medium=rss
The canton of Zug, one of the Swiss Confederation member states, has begun accepting bitcoin (BTC) and ether (ETH) for tax payments after initially announcing support last September.
Kanton Zug has partnered with Bitcoin Suisse for the initiative, meaning the Swiss crypto firm will convert residents' BTC and ETH tax payments into Swiss Francs for the authority.
The process of paying taxes with crypto appears to be simple. Residents have to scan a QR code and pay from a crypto wallet of choice. The cap for such payments is up to CHF 100,000 (about $110,000).
Swiss city Zug also accepts bitcoin for tax payments via Bitcoin Suisse since 2016. The Swiss municipalities of Zermatt and Chiasso also support the cryptocurrency for smaller tax payments.
https://www.theblockcrypto.com/linked/95270/swiss-canton-zug-now-accepts-bitcoin-ether-tax-payments?utm_source=coinbase&utm_medium=rss
