The city of Zermatt, known for the ski resort and the wonderful Matterhorn is now the second location in Switzerland where taxpayers can use Bitcoin (BTC) to pay their taxes. The Bitcoin news now also show that in order to unlock the new tax payment option, the authorities of Zermatt have partnered with Switzerland’s major crypto financial services company, Bitcoin Suisse.
An official announcement by Bitcoin Suisse shows that Zermatt started accepting Bitcoin as a means of payment for local taxes and transactions starting from January 28, 2020. By partnering with BTC Suisse, the authorities in Zermatt will now be able to convert taxpayers’ Bitcoin into Swiss francs through the intermediary – which will then transfer the amount in fiat currency to the bank account of the municipality.
Local taxpayers in the city of Zermatt, Switzerland will now be able to pay their taxes in Bitcoin through a point-of-sale tool which is installed in the Zermatt town hall or an online payment portal. In order to pay taxes with Bitcoin online, however, the taxpayers will have to apply directly to the Zermatt Tax Office for a payment solution as the announcement notes.
According to the mayor of Zermatt, Romy Biner-Hauser, the new tax payment option aims to meet increased demand for Bitcoin based tax payments.
“An innovative, pioneering spirit is one of the trademarks of Zermatt, which is why we are happy to support residents in providing them with the solutions they require,” he noted.
As you may know from our crypto news before, the city of Zug became the first city in Switzerland to accept Bitcoin payments in 2016 as Bitcoin Suisse announced. The capital of the “Crypto Valley” in Switzerland started accepting Bitcoin payments for certain city services such as public utilities in May 2016. The payment was reportedly signed at 200 CHF worth of BTC.
The city of Zermatt is now next in the news, as one of the most innovative cities which expand their crypto financial services industry in terms of Bitcoin powered tax payments. In the rest of the world, we can see that many global authorities deem such an option too risky due to Bitcoin’s high volatility.
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