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Author Topic: Norway Will Tax Bitcoin + VAT  (Read 3162 times)
Wilikon
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December 22, 2013, 04:07:53 PM
 #41

When the killer started his rampage on the island, the police could not come fast enough because there were one helicopter. The pilot was in vacation. No one else could replace him. Finally the cops made it to the place. their boat to reach the island broke down. They had to use someone's boat.

Those are the kind of bureaucrat adults in Norway that understand Bitcoin.
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December 23, 2013, 01:48:13 PM
 #42

When the killer started his rampage on the island, the police could not come fast enough because there were one helicopter. The pilot was in vacation. No one else could replace him. Finally the cops made it to the place. their boat to reach the island broke down. They had to use someone's boat.

Those are the kind of bureaucrat adults in Norway that understand Bitcoin.

Yes. And now Imagine if there was a serious attack from a foreign power, or a very organized group. Perhaps there would be attacks on several different places at once. In effect, Norway would not be able to respond quickly enough. There are talks about getting more helicopters though, I'm not too updated on this. But frankly, a country as rich as norway should always be able to respond within 30 minutes anywhere in the country, and then preferably with the millitary when something like this happens.

And then when all the faults were pointed out after the slaughtering took place, nothing happened for months afterwards. The road outside the prime ministers office was also pointed out as a security risk years before the attacks took place, yet it had not been closed for traffic.

Most national projects are over budget and delayed. That's the state of Norway.

People trust too much in the government, but when the shit hits the fan, are they there to save you?

And have all the people forgotten the crisis in the 1980's where stocks in banks were written down to zero? So much for the safety of the banks, and the protection from the government...

Three banks had all their stocks reduced to zero. All investors lost all their money. This happened because of a very controversial law made in the autumn 1991. This was a law allowing for expropriation which allowed the state to overtake the banks in crisis by zeroing the stocks and avoiding public administration. The law was trumped through quickly. This was done at the end of a year, preventing stock holders from writing the losses off on their tax. Had the govt waited till the next year, the stock holders could've written it off. The govt also ensure that a large number of private stock holders lost all their stocks without any compensation, because of a special law who allowed for expropriation without compensation. 170 000 stock holders in the 3 largest business banks had their stocks written down to zero.

And now with the current welfare system, the financial system will break down in about 20 years. The oil money will run out. Do you think your bank deposits then are safe?? Is it unthinkable that the government will not impose super-taxes to be able to pay for running costs?

What happened in Cyprus? And what are the talks about reducing the Norwegian state guarantee of 2 million NOK pr bank account to 100K Eur according to the EU rules?

Anyone who puts their full faith and trust in a centrally run government and financial system clearly do not understand the issues at play here.

Already we see that privacy rights are evaded, surveillance is being ramped up, and the government want to control everything that's related to the financial system. They want to abolish cash, and naturally they don't like bitcoin much either.

The bottom line is that you cannot trust the state to look after your interests. You're the only one who can protect your own assets and ensure that you survive in the event of a crisis in the future. Gold, silver, bitcoin, real estate, it's your choice where you want to put your money, but the traditional banking system may not be the safest bet depending on what happens in the future.

Many of those who sit in powerful positions are not even comfortable with using e-mail and digital tools, how do you expect them to understand something like bitcoin?
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December 23, 2013, 02:29:21 PM
 #43

When the killer started his rampage on the island, the police could not come fast enough because there were one helicopter. The pilot was in vacation. No one else could replace him. Finally the cops made it to the place. their boat to reach the island broke down. They had to use someone's boat.

Those are the kind of bureaucrat adults in Norway that understand Bitcoin.

I agree with the bureaucracy part.

But then, Norway is a very peaceful place. Terrorist incidents like the one occurred in Utoya occurs like once in a millennium. They never thought that something like that would happen in Norway.

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December 23, 2013, 02:34:26 PM
 #44

When the killer started his rampage on the island, the police could not come fast enough because there were one helicopter. The pilot was in vacation. No one else could replace him. Finally the cops made it to the place. their boat to reach the island broke down. They had to use someone's boat.

Those are the kind of bureaucrat adults in Norway that understand Bitcoin.

I agree with the bureaucracy part.

But then, Norway is a very peaceful place. Terrorist incidents like the one occurred in Utoya occurs like once in a millennium. They never thought that something like that would happen in Norway.

If you think of it - you have the oil platforms in the North Sea. The special millitary forces have conducted several training sessions out there, where the scenario is that a foreign force or terrorist group have attacked one or more platforms. Norways economy depends a lot on the oil, and if one or more of these platforms were destroyed, that would cause big monetary losses.

And it is true what bryant says, Norway has traditionally been a very peaceful country, of course if we discount the vikings and all their killings and slaughters, the time of colonization, triangle trade, and all the wars. So it's easy to play the blame game when something like this happens. And media did that to a large extent, something they always do if something goes wrong. If something never goes wrong, it's never mentioned.

If stuff like what happend at Utoya was a regular occurence, I'm sure there was better preparations for cases like it.
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December 23, 2013, 02:47:34 PM
 #45

And it is true what bryant says, Norway has traditionally been a very peaceful country, of course if we discount the vikings and all their killings and slaughters, the time of colonization, triangle trade, and all the wars.

I like it, although the reply was sarcastic. The vikings are gone many centuries ago. Not even remnants of that history remains now in Scandinavia. Radical feminism has destroyed masculinity there. Every week or so, I am reading horror stories like this, this and this.

Norwegian males with any self respect will soon go to Kirkenes and then cross over to Nikel or Zapolyarny via the Storskog crossing.

http://www.youtube.com/watch?v=yn3cHsHnUPM

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December 23, 2013, 03:09:02 PM
 #46

And it is true what bryant says, Norway has traditionally been a very peaceful country, of course if we discount the vikings and all their killings and slaughters, the time of colonization, triangle trade, and all the wars.

I like it, although the reply was sarcastic. The vikings are gone many centuries ago. Not even remnants of that history remains now in Scandinavia. Radical feminism has destroyed masculinity there. Every week or so, I am reading horror stories like this, this and this.

Norwegian males with any self respect will soon go to Kirkenes and then cross over to Nikel or Zapolyarny via the Storskog crossing.

http://www.youtube.com/watch?v=yn3cHsHnUPM

Hah! There are still some vikings left. Or let's just call them masculine men! The fact that a large part of the male population has turned into whimpy bitches is another discussion altogether. I don't think the gene material has changed much since the vikings lived though. But these are other times, you don't kill people who you dislike any longer. :p
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April 05, 2014, 05:43:27 PM
 #47

Essentially it wont be that much. If VAT was applicable, it would only be when consumers go into bitcoin. That means they can get the bitcoins from overseas cheap, and still be using them like normal currency domestically. This is what people will do if bitcoins take hold, and i think the authorities will realize by seeing that people just buy the bitcoin overseas, that the VAT is not giving them any revenue, and they might as well remove it again. There will also be the bitcoin advocates who will use the courts and the media to have the VAT removed. There was an example in Denmark, where they increased taxes on unhealthy foods. The result was people drove to germany to do the shopping. The danish stores and merchants were complaining, and eventually the taxes got removed

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April 05, 2014, 05:48:54 PM
 #48

http://e24.no/digital/handler-du-bitcoins-maa-du-ut-med-skatt-og-moms/22639792


(google translate):

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fe24.no%2Fdigital%2Fhandler-du-bitcoins-maa-du-ut-med-skatt-og-moms%2F22639792&act=url

Tax Administration has decided:
If you buy Bitcoins must
with both tax and VAT
Tax Administration has decided that Bitcoins is neither a currency or a financial service. It will turn right into your tax return if you have shopped with online currency.

========================================================

Norway: "All Your Bitcoins are Belong To Us!"



So this only affects purchasing BTC with fiat or when using it? Or both?

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April 05, 2014, 05:53:18 PM
 #49

http://e24.no/digital/handler-du-bitcoins-maa-du-ut-med-skatt-og-moms/22639792


(google translate):

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fe24.no%2Fdigital%2Fhandler-du-bitcoins-maa-du-ut-med-skatt-og-moms%2F22639792&act=url

Tax Administration has decided:
If you buy Bitcoins must
with both tax and VAT
Tax Administration has decided that Bitcoins is neither a currency or a financial service. It will turn right into your tax return if you have shopped with online currency.

========================================================

Norway: "All Your Bitcoins are Belong To Us!"



So this only affects purchasing BTC with fiat or when using it? Or both?

I hope Norwegian bitcoiners here could answer your question directly.
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April 05, 2014, 06:16:44 PM
 #50

I don't understand the need to tax bitcoin but okay..

there's still a way around this and it's called localbitcoins.com Cheesy

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April 05, 2014, 06:37:46 PM
 #51

I don't understand the need to tax bitcoin but okay..

there's still a way around this and it's called localbitcoins.com Cheesy

...Until you get entrapped by an Norwegian undercover cop dressed as a cute 18 year old blonde with ponytails for your illegal bitcoins traffic.
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April 05, 2014, 07:27:45 PM
 #52

Norway will instead treat Bitcoins as an asset and charge a capital gains tax, after Germany in August said it will impose a levy on the virtual currency.

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April 05, 2014, 07:29:11 PM
 #53

Yeah I kinda agree as long as we can exchange btc from cash, they cant  do anything about it.  Im sure also you can sell to a person who ill buy many for cash at wholesale price saving you time and effort then paying taxes

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April 07, 2014, 09:21:27 AM
 #54

That sucks. Hope it's bad google translation Grin
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April 07, 2014, 11:28:30 AM
 #55

...Until you get entrapped by an Norwegian undercover cop dressed as a cute 18 year old blonde with ponytails for your illegal bitcoins traffic.

A similar incident has already happened in Florida, US. The usage of Localbitcoins doesn't always allow you to escape from the governmental persecution.

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April 07, 2014, 04:09:29 PM
 #56

...Until you get entrapped by an Norwegian undercover cop dressed as a cute 18 year old blonde with ponytails for your illegal bitcoins traffic.

A similar incident has already happened in Florida, US. The usage of Localbitcoins doesn't always allow you to escape from the governmental persecution.

Yep.
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April 08, 2014, 11:49:32 AM
 #57

Both tax and vat ?!

Bitcoin is not damn alcohol to do that.

Good there is other countries out there.
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April 08, 2014, 12:28:17 PM
 #58

Both tax and vat ?!
Bitcoin is not damn alcohol to do that.
Good there is other countries out there.

I think that in Singapore also you have to pay the VAT (called GST there). But there it is around 4%, not 30% as in the case with Norway.

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Nemo1024
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April 08, 2014, 02:51:25 PM
 #59

Both tax and vat ?!
Bitcoin is not damn alcohol to do that.
Good there is other countries out there.

I think that in Singapore also you have to pay the VAT (called GST there). But there it is around 4%, not 30% as in the case with Norway.

I beg to differ, it's "only" 25% and 15% for foods (">http://no.wikipedia.org/wiki/Merverdiavgift)Cheesy

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“Dark times lie ahead of us and there will be a time when we must choose between what is easy and what is right.”
“We are only as strong as we are united, as weak as we are divided.”
“It is important to fight and fight again, and keep fighting, for only then can evil be kept at bay, though never quite eradicated.”
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