Matthias: Thank you very much for the invitation.
And I am also happy that I can bring tax law a little closer to the general public. Ramona: Matthias, you are one of the crypto experts here in Liechtenstein, and a tax consultant as well. How did you get into a profit must be taxed blockchain scene?
"Ausländersteuer" - foreigner tax
Matthias: I have to say that it was by chance, through Thomas Nägele. Thomas Nägele is actually the pioneer here in Liechtenstein and his topics are blockchain and crypto-based companies.
For his first workshop he was looking for a tax consultant and said, Matthias, would you be open to this topic and would you take a profit must be taxed in this workshop and tell my clients what the tax support for currencies actually looks like? The clients were satisfied and I was invited again and again to further.
Ramona: Great, and how long have you been there? Matthias: We have the honour that we were actually allowed to be there from the very beginning and to look after the first blockchain company in Liechtenstein, both from an accounting and a tax point of view.
How do I get tax assistance as an ICO? Ramona: And do many ICOs come to you? Matthias: Yes, many.
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The special thing about it is that the crypto scene is a really close community, which means that although we are a very young law firm, we live very much from recommendation marketing and even tend to have the problem that we have to reject projects. Ramona: Then there are certainly also criteria that one has to fulfil to be able to be supervised by you?
Since its creation inICRICT calls to stop the harmful race to the bottom in both corporate tax rates and the artificial shifting of corporate profits to low-tax jurisdictions by putting a floor to tax rates and attributing taxable profits to the jurisdictions where real economic activity takes place. ICRICT submitted a response to this proposal, finding it not sufficiently ambitious and fair to all countries.
Matthias: One criterion, for example, is which law firm is involved. Is it a serious partner, what is their onboarding process, etc.
But the most important thing for us is actually the team of the company. We have seen that with a team the success of a profit must be taxed project stands or falls. And over time you get an impression of how these people act and get involved.
You can see whether it is a serious project or a project where you just try to earn money quickly. Ramona: Tax advice is also needed for the legal opinion? Because in the beginning there always needs to be a legal structure for the clients, which binary options reviews serves as a basis for the FMA.
Tax law is a very important aspect here. Because, of course, on the one hand we have to keep an eye on the tax law nature itself, but on the other hand we also have to create an overall picture for the investors and employees. Taxation of tokens Ramona: Which tokens are taxed?