Bitcoin Accepted by Swiss Ski Resort Zermatt For Tax Payments
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Bitcoin Accepted by Swiss Ski Resort Zermatt For Tax Payments

January 29, 2020      Zain Raza

The iconic ski resort of Zermatt is allowing residents to pay their tax bills via Bitcoin, becoming the second local authority to do so. Lying below the Matterhorn mountain, Zermatt has revealed that it will accept all sorts of tax payments through the cryptocurrency, with no restrictions on the amount paid via Bitcoin. The town of Chiasso, in the Italian-speaking area of Switzerland, allowed the acceptance of Bitcoin for tax settlements, up to a limit of CHF250 ($257). On the other hand, Zug, part of Switzerland’s “Crypto Valley”, allows bitcoin payments up to CHF200 for government services, such as Business’s administrative fees since 2016.

Zermatt, which is popular amongst people who have a knack for well-heeled winter sports fans from all around the globe, has gone a step ahead and removed any payment limit on Bitcoin. It went on to add that it’d also accept CHF150 for administrative services.

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“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.”

Bitcoin Suisse, Zug-based crypto financial services would process the payment of the resort, whereas Eidoo, local blockchain company provides this service for Chiasso. Biner-Hauser further added that the primary purpose is to figure out the number of people who are willing to use Bitcoin for their tax settlements. He expects the number to be low initially, but they want to send a message that they are keeping up with the pace of time and are not old-fashioned.

Hope For Bitcoin Here, Despair Elsewhere

Instances like this are a sight for sore eyes for the crypto enthusiasts. Elsewhere in North Hampshire, a bill to accept Bitcoin as a payment for taxes got discarded because it is volatile and got labelled as “Inexpedient to legislate.” by authorities.

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Zain Raza
Zain Raza

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.