Europe’s VAT Landscape Taking Shape as Spain Exempts Bitcoin
The General Directorate of Taxes (DGT) has announced that virtual currencies such as bitcoin will be exempt from value-added tax (VAT) in Spain, following the leads of the United Kingdom and Germany, who recently stated that they are considering taking bitcoin as a complementary currency. In response to the Binding Consultation V1029-15 submitted on the March 27, 2015, the DGT has announced that virtual currencies, which are considered to be a medium of payment, will be classified as financial services rather than simple goods or commodities. Under the “DIRECTIVE 2006/112/EC of November....
Related News
Spain currently hosts 215 crypto ATMs, pushing El Salvador — home to 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. The European country of Spain is officially home to the third-largest network of Bitcoin (BTC) and cryptocurrency ATMs after the United States and Canada. Spain currently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations.Crypto ATM distribution....
The revised tax policy exempts crypto traders from the mandatory 7% VAT on authorized exchanges while offering tax exemptions of up to 10 years for crypto startup investors. The finance ministry of Thailand has reportedly eased up crypto tax regulations to promote investment in the digital asset market.The changes to the tax regulations come just a few weeks after the government scrapped its early plans of introducing a 15% tax on crypto gains. The new tax policy exempts crypto traders from the 7% value-added tax (VAT) on authorized exchanges, reported Reuters.The revised tax policy would....
On Tuesday, Digital Currency Group’s (DCG) mining subsidiary, Foundry Digital, announced the company has joined the Texas Blockchain Council (TBC), a nonprofit industry association in the state of Texas. Foundry detailed the newly formed alliance is aimed at Foundry’s efforts to “help shape the regulatory landscape for digital assets” in North America. Foundry Becomes a Texas Blockchain Council Strategic Partner Member The digital asset mining, staking, and advisory services firm Foundry Digital has announced it has joined the Texas Blockchain Council (TBC). The....
Rangers F.C, the most successful soccer club in Europe, has announced a partnership with a Turkish crypto and Bitcoin trading platform. The normalization of cryptocurrency advertising took another leap forward this week as Europe’s most successful soccer club announced a partnership with a Turkish Bitcoin (BTC) trading platform.Rangers Football Club, Europe’s most trophy-laden team with 115 competition wins to its name, will partner with Turkish cryptocurrency exchange Bitci Technology. The partnership will run until the end of the 2022–2023 season, and will see the Bitci brand appear on....
To some people, it will come as no surprise to find out those working in the banking sector are quite concerned regarding the financial status in Europe right now. Francois Perol, chairman of France’s second biggest bank, openly voiced his concerns yesterday, as he is more worried than he was in 2009. Europe’s Banking Sector Is On Edge. The primary concern Francois Perol has regarding the status of Europe’s banking sector right now comes in the form of negative interest rates. Not only will these new rates affect the consumer, but there will also be an impact on financial institutions as....