European Court of Justice Set for Bitcoin VAT Decision
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....
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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....
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....
In what can only be regarded as good news for Bitcoin, the European Court of Justice (ECJ) Thursday ruled that exchanging bitcoin should not be subject to VAT (Value Added Tax). The verdict, which is the climax of an Swedish court dispute that started back in 2012, applies to all 28 E. U. member states. VAT-law is complicated, however, and some reports on the verdict have been confusing so far. Hopefully, the answers to the six questions below will help make sense of this ruling. Does the ECJ decision mean that exchanging bitcoin falls outside of the scope of VAT? Actually, no. Any dealing....
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....
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....