The Federal Ministry of Finance, together with the supreme tax authorities of the German states, has prepared a draft BMF letter on the income tax treatment of tokens in general and virtual currencies such as Bitcoin in particular , on which the associations concerned are currently being consulted.
After reviewing the comments of the associations and renewed consultation with the supreme tax authorities of the states, the Federal Ministry of Finance will officially publish the final version of the BMF letter. This is intended to provide practitioners in administration and business and individual taxpayers with a guide to the income tax treatment of tokens and virtual currencies.
The letter makes some interesting points, but is of course only a draft and not conclusive. In addition, there is the fact that business actions or project/company financing must also take into account the company structures, the type and manner of tokens, possible requirements of the German Banking Act and other aspects.