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 Abhimanyu Krishnan | 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

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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