The iconic ski resort of Zermatt has become the second local authority in Switzerland to allow residents to pay their tax bills using the cryptocurrency bitcoin.
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When not covering fintech, cryptocurrencies, blockchain, banks and trade, swissinfo.ch's business correspondent can be found playing cricket on various grounds in Switzerland - including the frozen lake of St Moritz.
Zermatt, which lies in the shadow of the Matterhorn mountain, said on Tuesday that it will allow people living there to pay the whole range of taxes in bitcoin with no limit on the amount they contribute in the cryptocurrency.
Zermatt, a regular haunt for well-heeled winter sports fans from around the world, has taken this a step further, accepting unlimited bitcoin tax payments plus up to CHF150 in bitcoin for administrative services.
“We are in the process of developing our IT technology across all departments,” Zermatt mayor Romy Biner-Hauser told swissinfo.ch. “We are open to new innovations and are curious to see how cryptocurrencies could fit in with our infrastructure.”
The resort has teamed up with Zug-based crypto financial services company Bitcoin SuisseExternal link to process the cryptocurrency payments. The same company performs this task for Zug while Chiasso employs the services of local blockchain company EidooExternal link.
“We are curious to see how many people want to use bitcoin to pay their tax bills,” Biner-Hauser added. “We do not expect too many people at first, but we want to show that we are keeping up with the times and are not old fashioned.”
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Zug first to accept bitcoin for government services
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The Zug municipality made the decision at its meeting on May 3 and the pilot project will start from July 1 and continue until the end of 2016. Bitcoin payments up to a value of CHF200 ($205.8 or 0.44 XBT) will be accepted for standard government services. The authorities claim they want to lead by…
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Chiasso announced that it would take bitcoin to settle up to CHF250 ($265) of tax bills from the start of next year. The decision was taken after consulting with cryptocurrency and blockchain companies that have recently set up in the region. “Chiasso is recognised internationally as an epicentre of a growing technological and economic growth…
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