Town of Zermatt becomes the second municipality in Switzerland to officially allow its taxpayers to pay their taxes in bitcoin (BTC). Bitcoin Suisse, Switzerland’s major crypto financial services company, helps to implement the new payment method. Zermatt, a little ski resort town at the foot of mount Matterhorn, follows the city of Zug that in 2016 became the first municipality in Switzerland to accept Bitcoin payments.
According to an announcement by Bitcoin Suisse, Zermatt started accepting bitcoin from local taxpayers on January 28, 2020.
The mayor of Zermatt Romy Biner-Hauser the move had been prompted by an increased demand for bitcoin 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.”
Zermatt convert taxpayers’ bitcoins into Swiss francs via Bitcoin Suisse which then transfers the amount in fiat currency to the municipality’s bank account. To pay with cryptocurrency online, one will need to apply directly with Zermatt town authorities. The taxpayer will then receive an email with a link to access the online payment portal, where they can transfer bitcoin directly from their wallet to Zermatt’s wallet.
Zermatt taxpayers can pay their taxes in bitcoin via a point-of-sale kiosk installed in the town hall or on an online payment portal.
Meanwhile, in the United States, on January 8, lawmakers of the New Hampshire state legislature retracted a bill that would have allowed state agencies to accept cryptocurrency as payment for taxes. According to lawmakers the initiative was blocked because Bitcoin’s price is not stable.
Zermatt is located in the district of Visp in southern Switzerland’s canton of Valais, beneath the picturesque mountain, Matterhorn. With a population of about 5,800, the town is one of the country’s most popular tourist resorts, especially for skiing.
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