Bitcoin Forum

"The Norwegian government stated in February 2017 that they would not levy VAT on the purchase or sale of bitcoin.[135]"

Hi, hope you guys are keen on helping me.I got that information from Wikipedia.

By" sale " does it mean selling your bitcoin for money would not be taxed or no need to inform the tax offfice? That sounds too good to be true.... I know you don't need to pay VAT for buying Bitcoins in Norway which is excellent for Bitcoin buyers in Norway . But how do you define " sale"  selling and trading? anybody can help to explain it? Thanks in advance.

Its sound seems very good in Norway, so many advantage for us trading in that country if news is real

Original source needed for more context.  As written, I would interpret as there is no longer VAT on purchase of Bitcoin, assuming that Bitcoin is currently considered a good or service that attracts VAT.  VAT is a sales or purchase tax for those unfamiliar.

it's real, the source is quoted from the official government website. I live in Norway but I am not Norwegian. and my English is really crappy. I hope if there  any Norwegian bitcoin owners or experts can help to enlighten me on how the law/tax works here with bitcoins.so that i don't have to hesitate this and that when dealing with bitcoins. Thanks

From what you posted I can understand is there is no tax on bitcoin in Norway and, if there no tax law or any kind of notification saying that there is tax, I don't think you should even worry about paying any kind of taxes. People buy Bitcoin because they choose not to pay taxes. So if you're buying and selling in cash you don't need to worry. Now if you're buying from a exchange that has your legal documents you could show it as a assect and pay tax on short or long term
However according to me there is no need to pay taxes.

the country norway is one of the bitcoin buyer. in this coutnry many of the people uses bitcoin. and in my opinion i think it is only ought because the government allowed it so they want to earn it but the problem is if the tax is very high it is not right because bitcoin transaction is very high and what you're earnigns if the bitcoin transaction is high plus the tax right ?

This is the part of the Wiki page (https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Northern_Europe (https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Northern_Europe)) immediately before the part quoted in OP.


So tax will be applied if you sell Bitcoins at a profit and using Bitcoin for a transaction will be treated the same as cash, i.e. VAT applied.  Basically Norway is the same as rest of Europe/EU, as one might expect, the only differences are in how things and when the details are announced.

It's good to have a tax on your earnings when you're making money, because it's legal to admit bitcoin.