VAT news tagged as "Digital currency"

Thailand

Thailand levies VAT on bitcoin

March 20th, 2018

Thailand’s Cabinet has moved to levy 7% VAT on digital currency (e.g. bitcoin) transactions. This is aimed at curbing money laundering and tax evasion. The Council of State will have to ratify the widening of the tax net. Over the past three years, the EU, South Korea and Japan have exempted from such consumption taxes. Trading …


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 …