Swiss Tax Authorities Confirm that Bitcoin is VAT-free in Switzerland
Bitcoin Association Switzerland reports that, according to the Swiss Federal Tax Administration, no VAT applies to bitcoin in Switzerland. The transfer of bitcoin doesn't constitute delivery of goods or services, and therefore it's not subject to VAT."This is the most reasonable way to classify bitcoins in the context of VAT, and we are fortunate that....
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Bitcoin users do not have to pay value added tax (VAT) on bitcoin in Switzerland. The Swiss Tax Administration (ESTV) has announced there will be no VAT on bitcoin transactions, according to Bitcoin Association Switzerland. The news brings hope not only to bitcoin users in Switzerland, but worldwide. Switzerland has a global reputation for financial security. Bitcoin supporters want governments to view bitcoin as a method of payment, not as a delivery of goods or a service subject to a VAT. Bitcoin supporters have noted that it will be difficult for bitcoin to become an accepted currency....
The Swiss Federal Tax Administration (ESTV) has a great announcement for the cryptocurrency community. Recognizing that Bitcoin is a currency used to purchase items, the administration has decided that no VAT will be applied to Bitcoin in Switzerland. "This is excellent news!" CEO of Bitcoin Suisse AG, Niklas Nikolajsen said, "This is excellent news for Bitcoin in Switzerland as it provides the legal certainty we need to professionally operate our business." Luzius Meisser, President of Bitcoin Association Switzerland, states: "This is the most reasonable way to classify Bitcoins in the....
Switzerland's bitcoin community has spoken out following confirmation that bitcoin is exempt from Value Added Tax (VAT) in the country. Bitcoin had always been exempt from VAT in the country, Luzius Meisser, president at Bitcoin Association Switzerland, told CoinDesk, adding that the Swiss Federal Tax Administration (FTA) had clarified the situation following a formal question submitted by his group in February last year. When asked about the implications for bitcoin business in Switzerland, Meisser said: "This has direct implications for all bitcoin companies with Swiss customers. They....
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