Saxony relies on AI and software solutions to prevent tax evasion when trading Crypto currency to chase. The Ministry of Finance announced that Bitcoin, Ethereum and Co trading is now a multi-million dollar market. This new software is intended to support tax investigators in understanding transactions.
Anyone who makes a profit with cryptocurrencies in one year must pay taxes on this income. If kept secret, new ones will come software to use. It was developed together with Mittweida University of Applied Sciences. Other recently purchased commercial software also allows processing transaction data and identifying tax-related processes more quickly.
The state ensures that there is no legal vacuum in the digital world, explained Finance Minister Christian Piwarz (CDU). “It also sends a clear message that… tax evasion not worth trading crypto assets. A tax investigation will uncover illegal actions.”
© dpa-infocom, dpa:251112-930-281707/1
