Bitcoin Forum

Economy => Economics => Topic started by: Possum577 on July 16, 2015, 04:48:09 PM



Title: European Court of Justice declares bitcoin a form of money - exempt from VAT!
Post by: Possum577 on July 16, 2015, 04:48:09 PM
http://www.coindesk.com/european-court-of-justice-official-proposes-bitcoin-vat-exemption/

Bitcoin operations should be exempt from Value Added Tax (VAT), the Advocate General of the European Court of Justice said in an opinion document published today.

Citing existing exemptions for currency and money transactions in Europe’s VAT Directive, Attorney General Juliane Kokott urged the court to opt against applying a tax to bitcoin purchases and sales. She further argued that bitcoin, while not legal tender, is still a form of money.

...not only is the court declaring that bitcoin transactions should be exempt from VAT, they are declaring that bitcoin is a form of money. Maybe I'm stuck in 2014, but it is it still big news that a government or court system acknowledges bitcoin as currency? I think so. This is big news!


Title: Re: European Court of Justice declares bitcoin a form of money - exempt from VAT!
Post by: Amph on July 16, 2015, 06:01:49 PM
wow great news for us european, i was waiting for it since ages, the good thing about having a central authority in this case, it that all other nation must agree on this decision

now we don't need to pay a 22% vat of something that is supposed to be a currency

"Not all European Union countries have come to support a VAT exemption for bitcoin. In December, Estonia opted to apply VAT to the full amount of bitcoin trades, not just the commission or the fee incurred by the transaction."

can they do the above? i remember that is the EU that decide in the end on everything concerning the euro zone, how can they do what they want?