The Canton of Zug has announced that it will accept tax payments in Bitcoin or Ether from February 2021.

Switzerland Will Start Accepting Taxes in Cryptocurrencies; According to swissinfo.ch , Zug will be the first Swiss canton to accept tax payments in cryptocurrencies. Moreover, it has been possible to pay with them for public services in the capital of the canton, the city of Zug, since 2016, provided that the amount does not exceed 200 Swiss francs.

The portal notes that legal entities and individuals will be able to use either Bitcoin or Ether for payments of up to 100,000 Swiss francs. According to the finance minister of the canton, Heinz Tennler, the canton bears absolutely no risks, especially since Switzerland already freely converts any payments made using cryptocurrencies into Swiss francs.

Swissinfo notes that the city of Chiasso, on the border with Italy, also already accepts bitcoin payments, and the mountain resort of Zermatt hit the media in early 2020 with the announcement that citizens of the city would be able to pay a range of taxes in cryptocurrencies without limiting the amounts.

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