European Bitcoiners React to VAT Exemption Proposal
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....
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What is rather intriguing about this proposal is the proposed definition of virtual currency. Regulating companies active in the bitcoin world have proven to be quite challenging. In most cases, bitcoin startups dealing with customer deposits are labeled as money transmitters. New Hampshire legislators are now seeking an exemption for bitcoin startups through the HB 436 proposal. It remains unclear if their proposal will be approved, as it will set an intriguing precedent for other US states. Under the HB 436 proposal, New Hampshire regulators want to add a formal definition for bitcoin to....
The European Commission disagrees with some provisions in the crypto regulatory proposal approved recently by the European Parliament. The executive arm in Brussels is unhappy with certain anti-money laundering measures, according to a media report quoting unofficial correspondence.
European Commission Working on Compromise Proposal for EU Crypto Rules
Europe’s upcoming Markets in Crypto Assets (MiCA) legislation is facing challenges in the trilogue stage, less than two months after the European Parliament voted on the draft. Since then, discussions have been underway....
Earlier this week, the European Court of Justice decided to exempt bitcoin transactions from Value Added Tax (VAT). In so doing, the court effectively recognized bitcoin as a legitimate means of payment in Europe, putting it in the same realm as other currencies for tax purposes. The ruling comes months after court advocate general Juliane Kokott said the court should refrain from applying tax to bitcoin sales and purchases in an opinion published in July. Europe's highest law court first began looking into bitcoin taxation in June last year after the Swedish tax office challenged a court....
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....
Brazil’s congress heard several proposals endorsing a tax exemption on miners and promoting cryptocurrency to the status of a national currency. A new proposal in the Brazilian Congress calls for a tax exemption on both the importation of crypto mining rigs and on any mining conducted using renewable energy sources.A Dec. 4 report from Brazilian media outlet Seudinheiro explains that a series of new proposals from Brazilian lawmakers could reduce the criticism crypto gets in South America’s largest country. Congress also heard a proposal to have cryptocurrency be regarded as a currency as....