Earlier in 2016, the city of Zug in Switzerland was recognized as a “crypto valley” as it was the first city in Switzerland to accept Bitcoin payments. Following in the footsteps of Zug, the municipality of Zermatt has officially announced that it will allow residents to officially pay taxes and make local transactions with Bitcoin in a bid to increase tax payment options.
Officials from Zermatt have partnered with Bitcoin Suisse, Switzerland’s largest financial services company in this endeavor. The company will facilitate the conversion of taxpayers’ Bitcoin into Swiss francs, which will transfer fiat currency to the municipality’s bank account.
Taxpayers can pay either online or via the Bitcoin Suisse POS device installed in the Zermatt town hall, but when choosing to pay taxes with Bitcoin online, taxpayers must first complete an application with the Zermatt Tax Office.
Romer Biner-Hauser, Mayor of Zermatt, said the new tax payment is aimed at meeting the growing demand for Bitcoin tax payments. This move towards allowing residents to pay in Bitcoin is in accordance with Zermatt’s vision to be a leader in innovation, but more importantly, he hopes this will help support the growing payment needs of their residents.
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