The German Federal Fiscal Court has confirmed that sales profits from cryptocurrencies are taxable. The court ruled that cryptocurrencies qualify under the term "other assets" in the German Income Tax Act and therefore are generally taxable assets. The court also denied that such taxation would violate German constitutional law. The decision is in line with the opinion of the tax authorities and the prevailing opinion of the German lower fiscal courts and provides clarity on cryptocurrency taxation. Taxpayers with profits from sales of cryptocurrencies should review if these profits might be affected by the decision and declare any such profits properly if they are taxable under the relevant section of the Income Tax Act.
