European Exchanges React to Bitcoin VAT Exemption
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....
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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....
Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand. Royal Decrees Enforce VAT Exemption for Crypto Trading in Thailand Investors moving cryptocurrencies and digital tokens through exchanges in Thailand will benefit from a 7% VAT exemption on such transactions. A decree published in the Royal Gazette on Tuesday enforced the tax break retroactively from April 1, 2022. It....
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....