Norway Will Tax Bitcoin + VAT

[Wilikon]

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.

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

Was posted on politics and society first but.

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[BadBitcoin (James Sutton)]

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

[Wilikon]

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]

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]

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

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

[PenAndPaper]

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]

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 )

[bryant.coleman]

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?

[beetcoin]

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?