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Author Topic: Norway Will Tax Bitcoin + VAT  (Read 2661 times)
Wilikon
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November 21, 2013, 08:47:33 PM
 #1

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!"

Was posted on politics and society first but.
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BadBitcoin (James Sutton)
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November 21, 2013, 08:49:00 PM
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so the trick is, to never convert back into krone in any large quantities.
Wilikon
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November 21, 2013, 09:03:03 PM
 #3

so the trick is, to never convert back into krone in any large quantities.

I would believe it is the "trick" all of us in all countries should do, but I guess people are free to go "back"...
tutkarz
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November 21, 2013, 09:13:07 PM
 #4

it is problem for Norwegian exchanges (if there are any) I guess because how they are going to check that overseas or even at localbitcoins.
Anyway I think it's really stupid idea to put VAT on bitcoin because you are not paying VAT for items already in circulation (eg. used) except for mining.

blastbob
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November 22, 2013, 09:18:45 AM
 #5

Problem is that they dont understand what it is, and they give a answer on the laws/rules they have.

It will take a while before they change anything. As usual Smiley

First you need the Financial department to declare bitcoin as currency. Then you can maybe get some changes on the Tax part.

Psst.. Got Ether?
PenAndPaper
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November 22, 2013, 09:35:24 AM
 #6

So if i 'm getting it right they decided that if you have gains in fiat from selling bitcoins that gain is taxable.
Isn't that something to be expected?
blastbob
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November 22, 2013, 09:39:45 AM
 #7

So if i 'm getting it right they decided that if you have gains in fiat from selling bitcoins that gain is taxable.
Isn't that something to be expected?

It is..

But if i want to buy Bitcoins in norway I have to pay 25% on the going rate. If i move these coins to an exchange in some country, i do not get the 25% tax back.

There is a reason why someone smuggling gold into norway.. They get 25% more than the going rate.
http://www.aftenposten.no/nyheter/iriks/Politiet-Nettverk-smuglet-over-500-kilo-gull-inn-i-landet-7141130.html ( use google translate )

Psst.. Got Ether?
bryant.coleman
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December 04, 2013, 04:02:53 AM
 #8

Recently there was news about some Norwegian guy buying a flat with his "rediscovered" bitcoins.

Here:
http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home

So.. did he paid any tax?

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beetcoin
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December 04, 2013, 06:11:30 AM
 #9

Recently there was news about some Norwegian guy buying a flat with his "rediscovered" bitcoins.

Here:
http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home

So.. did he paid any tax?


maybe he sold his bitcoins before norway made a verdict, and so the statute of limitations apply to him?
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