Bitcoin Option For Tax Payments

Local taxes and other government services can now be paid using the cryptocurrency.

The Swiss ski resort of Zermatt became the second city in Switzerland to let citizens pay their taxes in Bitcoin. Zug was the first city to accept Bitcoin payments in 2016.

According to an official note dated January 28, local taxes and other government services can now be paid using the cryptocurrency. The Zermatt authorities will convert taxpayers’ Bitcoins into Swiss francs through a broker, Bitcoin Suisse, and the amount will be transferred in fiat currency to the municipality’s bank account.

Local taxpayers will be able to make their Bitcoin payments through a point-of-sale tablet installed in town hall or pay online through a special online payment portal. They will have to apply directly to the Zermatt Tax Office.

Romy Biner-Hauser, the mayor of Zermatt, said the new payment option aims to satisfy the growing 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 said.