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Title: [2015-06-19] Summary of the hearing in EU court of justice Post by: LiteCoinGuy on June 19, 2015, 03:05:04 PM Summary of the hearing in EU court of justice
Today the oral hearing in the Bitcoin VAT case was held at the EU Court of Justice in Luxembourg. For those who haven’t followed the case, the questions referred to the court are quoted below. Everyone seems to agree that the answer to the first question is ‘yes’ so the debate is regarding question number two. -Is Article 2(1) of the VAT Directive 1 to be interpreted as meaning that transactions in the form of what has been designated as the exchange of virtual currency for traditional currency and vice versa, which is effected for consideration added by the supplier when the exchange rates are determined, constitute the supply of a service effected for consideration? -If the answer to the first question is in the affirmative, is Article 135(1) to be interpreted as meaning that the abovementioned exchange transactions are tax exempt? http://www.bitcoin.se/2015/06/18/summary-of-the-hearing-in-eu-court-of-justice/ |