VAT news tagged as "Cryptocurrencies"

Israel

Israel scraps VAT on Bitcoin

December 10th, 2017

Israel is considering becoming the latest country to exempt sales of bitcoin and other cryptocurrencies from VAT.  Instead, profits from dealing in the digital currencies will be liable to Capital Gains Tax or Corporate Income Tax. Israel has until now categorised digital currencies as a financial asset, and not a currency, thus making trading liable to indirect …


India

India may levy 18% GST on bitcoin

July 16th, 2017

India is considering 18% Goods and Services Tax on crypto-currencies, such as bitcoin. A special task force, studying potential tax and regulatory frameworks for bitcoin purchases and sales, is considering fiscal and supervisory issues.  It has already retracted statements indicating that it would seek a complete ban on virtual currencies – the black market in …


Europe

EU to review VAT on Bitcoins

July 22nd, 2014

The European Union is to step in to clarify the Value Added Tax treatment on the trading of cryptocurrencies, such as Bitcoin. Sweden has prompted the investigation, fearing its own initial tax pronouncement is being undermined by the UK’s revised position issued in March this year. European Court of Justice to clarify VAT liability Sweden …