did i just read that EU made BTC tax free EU-wide ?

[VirosaGITS]

So EU declares bitcoin as a currency, not a commodity. So it is VAT free.

Should bitcoin also be free from capital gains tax as it is a currency?

No. If you earn 30k BTC and of that 10k is profit per year, then your Bitcoin income should be taxed at 10k. Sure tax free sound good but the government need their tax income if we want them to not beat down on BTC.

[1715572915]

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[Cereberus]

I don't live in europe but I always see people arguing how the VAT is too high.
If it's not viewed as a product then no VAT should be put on it. All this time I thought it was a tax like in America
for goods and services. Never really looked in to it because I haven't made any purchases in EU countries. But good to know if I decide to go there next year when the price on btc really soars.

[TXWA]

It would be hard for them to enforce taxes if the user knows what they are doing anyway.

[VirosaGITS]

It would be hard for them to enforce taxes if the user knows what they are doing anyway.

Sure, but its not any easier or harder than tracking if someone is evading taxes while is being paid cash under the table. At some point, you need people to just come up and honestly pay their taxes like a "good citizen".

I just think profit on Bitcoin mining or trading etc should be declared as income like any other source of income. Of course if someone wants to do tax evasion, BTC does make it handy.

[OrientA]

I don't live in europe but I always see people arguing how the VAT is too high.
If it's not viewed as a product then no VAT should be put on it. All this time I thought it was a tax like in America
for goods and services. Never really looked in to it because I haven't made any purchases in EU countries. But good to know if I decide to go there next year when the price on btc really soars.

It is not treated as goods and services. It is regarded as currency. So there is not tax to pay if you use it or convert it to other currencies.

You will pay income tax like other fiat earnings.