Paying Taxes in Bitcoin and Ethereum Possible in Switzerland Canton of Zug from 2021

Paying Taxes in Bitcoin and Ethereum Possible in Switzerland Canton of Zug from 2021

By Abhi K | News | 4 Sep 2020


Citizens and businesses in the Swiss canton of Zug will be able to pay taxes in Bitcoin (BTC) and Ethereum (ETH) from 2021, following a partnership between authorities and Zug-based crypto broker and custodian Bitcoin Suisse, according to a report published on September 3.

  • Citizens and companies of Zug will be able to pay up to 100,000 CHF (~$110,000) with either Bitcoin or Ethereum; partial payments in cryptocurrency will not be accepted
  • The tax scheme will be piloted in the upcoming weeks, with the launch planned for February 2021
  • Bitcoin Suisse will convert cryptocurrency payments into Swiss Francs before transferring the payment to authorities
  • Zug is known as “Crypto Valley” for its crypto-friendly regulation and the presence of several cryptocurrency startups

Abhi K
Abhi K

Technophile, cryptocurrency enthusiast and journalist.


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