European Court of Justice Official Proposes Bitcoin VAT Exemption
Bitcoin operations should be exempt from Value Added Tax (VAT), the Advocate General of the European Court of Justice said in an opinion document published today. Citing existing exemptions for currency and money transactions in Europe's VAT Directive, Advocate General Juliane Kokott urged the court to opt against applying a tax to bitcoin purchases and sales. She further argued that bitcoin, while not legal tender, is still a form of money. Kokott wrote in the opinion: "I therefore propose that the Court should reply...[that] these operations are exempt from tax under section 135,....
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On October 22, 2015, the European Court of Justice ruled that Bitcoin is a means of payment and its exchange is exempt from VAT in a landmark ruling. But a few people understand the implications of this decision. That’s why CoinTelegraph decided to ask for comment an experienced bitcoin lawyer. Our expert is Stefano Capaccioli. Stefano Capaccioli is CPA, Auditor, Tax litigator, Tax Advisor, Business Consultant, Specialized in Law & Tax on Gold, Precious Metals and Cryptocurrencies gives a professional Comment to Court Of Justice Judgement C-264/14 on bitcoin VAT exemption. “currencies....
A long-awaited court decision on whether bitcoin exchanges in Europe will be required to pay value-added tax (VAT) on trades is set to be handed down on Thursday. The decision will mark the conclusion of a journey that began with a dispute over whether services that buy and sell bitcoins should be charged VAT. The inquiries were prompted after David Hedqvist, a resident of Sweden, asked for a policy clarification on how bitcoin should be taxed as he prepared to open a bitcoin brokerage. A Swedish court later found that such activities should be exempt from VAT - a decision disputed by the....
Bitcoin in the Headlines is a weekly analysis of bitcoin media coverage and its impact. Mainstream outlets from across the world reported the sentencing of rogue Drug Enforcement Agent Carl Mark Force to 78 months in prison this week, and in so doing brought bitcoin's association with illicit activity and the darknet back to the fore. More positive coverage came in the form of the European Court of Justice's bitcoin VAT exemption, with some outlets exploring its effect on the digital currency's rising price. Elsewhere, the creation of a discussion forum by a group of digital currency....
Bitcoin entrepreneurs and digital currency enthusiasts in the European Union (EU) have spoken out following the European Court of Justice's (ECJ) proposal for bitcoin's exemption from Value Added Tax (VAT). Formulated by the court's Advocate General Juliane Kokott, the opinion provided a long-awaited answer to the question of whether VAT should be applied to bitcoin purchases and sales. Despite Spain's Ministerio de Hacienda clarifying its stance on bitcoin transactions earlier this year, Alberto Gomez Toribio was still optimistic about the proposal and the possible implications for his....
Bitcoin transactions will be exempt from Value Added Tax (VAT), the European Court of Justice (ECJ) has ruled. According to the Financial Times, the ECJ said that bitcoin transactions "are exempt from VAT under the provision concerning transactions relating to currency, bank notes and coins used as legal tender." The ECJ's long-awaited ruling comes after its Advocate General Juliane Kokott urged the court to refrain from applying tax to bitcoin purchases and sales, in an opinion document published in July. The European court first looked into bitcoin taxation in June last year after the....