Norway’s Tax Administration has reversed its position on taxing bitcoin sales by making it VAT exempt. The move brings it into line with the European Union which made the trading of digital currencies exempt from Value Added Tax last year following a European Court of Justice ruling.
In 2013, Norway had made crypto-currency trading subject to VAT as a tradable asset or commodity. Several EU countries had followed this path initially, but subsequently reclassified digital currencies as private money, VAT free as a financial service.
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