Sweden Seeks Bitcoin Taxation Ruling From European Union
Sweden has reportedly asked the European Union to publish rules on appropriate VAT (value-added tax) when ti comes to digital currencies, Tax-News reports. The call for clarity comes following a revised position taken by the United Kingdom back in March. Quoted from Tax-News: To date, there has been a significant divide between countries in their guidance on the taxation of Bitcoin, and uncertainty lingers. A local authority in Poland has said that all transactions related to Bitcoin should be taxable, regardless of the location of the recipient. Poland and Estonia, too, have said any....
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It’s no secret that Swedish politics are becoming Bitcoin-centric. Now, Sweden’s government solicited the European Union to issue authoritative rules on the VAT (value-added tax) treatment to decentralized virtual currencies, such as Litecoin and Bitcoin. Sweden is looking for confirmation, now that the UK altered its position with regards to Bitcoin taxation. Earlier this month, Högsta förvaltningsdomstolen - the Supreme Administrative Court of Sweden - filed a special request asking for a preliminary ruling in front of the European Court of Justice. They wanted to know if Bitcoin....
The Court of Justice of the European Union received on 02.06.2014 the Preliminary Ruling of The Swedish Supreme Administrative Court ("Högsta förvaltningsdomstolen") on the interpretation of Article 135.1 of the Directive 2006/112/EC on VAT taxation on bitcoin. The number assigned to the case is C-264-14 (published in the Official Journal C 245 on 28.07.2014, p.7). The preliminary ruling was originated by an advance tax ruling submitted by David Hedqvist (moderator of Section Sweden of bitcointalk.org and founder of www.bitcoin.se), who intended to carry on a business through a switching....
The European Union's Court of Justice Advocate reached a decision today on the validity of value-added taxation for Bitcoin trading. After careful consideration of arguments from Estonia, Germany, Sweden, and members of the European Bitcoin industry including David Hedqvist, the court decided that the acquisition of Bitcoin was not a taxable event in the eyes of the VAT. Also read: European Union to Rule on Bitcoin VAT Today. While there is currently no English translation of the ruling, the Google translate edition does it enough justice to decipher the reasoning behind it. The conversion....
An Indian industry association has written to the country’s finance minister seeking clarity on cryptocurrency taxation in Union Budget 2022-23. “The budget should ideally offer coherent rules on direct taxation and the GST Council should detail the applicability of taxation, else there will be confusion.”
Industry Wants Clarity in Crypto Tax Laws in Union Budget 2022-23
Indian industry association Indiatech has written to the country’s finance minister, Nirmala Sitharaman, regarding cryptocurrency taxation. The association represents major....
Sweden has emerged as a favorable alternative to fintech companies planning to set up base in EU following Brexit. With Brexit around the corner, Sweden could present itself as one of the alternative destinations for the European financial industry. The upcoming Brexit has turned into a speculator’s game. Britain’s exit from the European Union is expected to have a divisive effect on the country’s thriving finance and financial technology sector. All the efforts put in by the City of London to foster a healthy fintech ecosystem may go to waste as companies risk losing free access to the EU....