Swiss Member State To Accept Cryptocurrency Tax Payments

Law360 (September 3, 2020, 6:45 PM EDT) — The Swiss member state of Zug announced Thursday that it will begin accepting tax payments in Bitcoin and Ether next year, becoming the first Swiss canton to take payment in cryptocurrency.

The canton of Zug will take payments of up to 100,000 Swiss francs ($110,000) from companies and individuals starting in February 2021, the canton said in its statement. It will not accept partial payments. A test program will begin within a few weeks to help meet the February deadline, it said.

Taxpayers wishing to pay with cryptocurrency should contact the canton’s tax office, the statement said. They will be given a QR…

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