If you are a resident of the Swiss canton of Zug, you can pay your taxes in cryptocurrencies from this February.
As we informed you last September, the Swiss canton of Zug, which is known as the home of hedge funds, innovative and crypto companies, announced plans to collect taxes in cryptocurrencies.
The canton of Zug fulfilled these plans in the new year and announced through its website that from this February all natural and legal persons who are subject to tax in this canton can pay their tax accounts in the cryptocurrencies Bitcoin (BTC) and Ether (ETH).
The canton of Zug has also prepared a simple video tutorial for its residents on how to pay taxes with cryptocurrency:
For more specific numbers, the tax settlement in cryptocurrency should be available up to an amount of 100,000 Swiss francs ($ 111,470).
Read also: In the UAE, they have the first government-owned licensing entity that receives cryptocurrencies
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