For Merchants:
How quickly can I integrate OPAGO PAY in my business?
How does OPAGO PAY manage to avoid chargebacks?
What fees does OPAGO PAY charge?
When and how do I receive my payouts?
How does OPAGO PAY ensure regulatory compliance?
What kind of reports can I access through OPAGO PAY?
What if I face an issue or need assistance?
Can OPAGO PAY handle large volumnes of transactions?
Why do I see three or more bookings per transaction in my report?
As opago GmbH, we are not a custodian bank, but merely accompany the “path of the money” so that it reaches you safely via the Lightning network. The transaction therefore consists of an incoming payment and the forwarding of the payment, minus the agreed transaction fees. These items are shown separately.
For Customers:
How do I use OPAGO PAY to make payments?
Can I use any wallet with OPAGO PAY?
Do I need to sign up with OPAGO PAY to make a payment?
What should I do if I encounter a problem when paying with OPAGO PAY?
Are there additional fees when I use OPAGO PAY?
For Tax Advisors:
How are Bitcoins taxed?
For private individuals, the sale of acquired Bitcoin is tax-free after one year. The period is not extended to ten years even if, for example, Bitcoin was previously used for lending or the taxpayer has, for example, made Ether available to another person as a stake for their block creation.
Wallets that constitute business assets for tax purposes are always subject to taxation, regardless of the retention period. On disposal, the increase in value between purchase/acquisition and sale/disposal is subject to taxation. It does not matter whether the Bitcoin is sold and converted into fiat currency or exchanged for other cryptocurrencies.
Is my wallet a business asset for tax purposes?
A wallet is generally subject to the application regulations of the tax authorities in R 4.2 EStR. If it is a wallet that is used for business purposes, it must therefore be assumed that the tax authorities consider it to be business assets for tax purposes, especially if the wallet is used to accept business funds. The situation is different only if no business connection can be established with the custody account.
According to case law (BFH v. 22.02.1973 – IV R 69/69), there is no inventory account for small businesses that prepare a so-called revenue surplus account. According to the prevailing opinion, money received, be it fiat currency or Bitcoin, is not part of the taxable business assets. Nevertheless, the recording and retention regulations of the German Fiscal Code must be observed and, in the event of an external audit, suitable documents must be submitted that reflect the business transactions. The reports stored in the dashboard can be useful as such evidence. Please note that you yourself should ensure that the transaction data is stored for the period for which it must be retained.
Why do I see three or more bookings per transaction in my report?
As opago GmbH, we are not a custodian bank, but merely accompany the “path of the money” so that it reaches you safely via the Lightning network. The transaction therefore consists of an incoming payment and the forwarding of the payment, minus the agreed transaction fees. These items are shown separately.