European Union to review tax on Bitcoin trading

European Union to review tax on Bitcoin trading

The European Union is to step in to determine the Value Added Tax treatment on the trading of cryptocurrencies, such as Bitcoin. Sweden has prompted the investigation, fearing its own initial tax pronouncement is being undermined by the UK's revised position issued in March this year. European Court of Justice to clarify VAT liability. Sweden has asked the European Court of Justice to give its opinion on whether exchanging Bitcoin for traditional sovereign currencies is liable to VAT. At the heart of this question is whether Bitcoin is a currency (which is exempt from VAT) or a form of....


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