VAT news tagged as "Digital"


Australia to scrap bitcoin GST

March 23rd, 2016

Australia is planning to make the trading of bitcoin and other digital currencies exempt from 10% Goods & Services Tax. The current taxable status of bitcoin is a severe restriction to adoption of the currency in Australia. It affectively adds 10% costs to each trade, with a rapid compounding as the currency is repeatedly traded. …


Bitcoin wins EU VAT case

October 22nd, 2015

The European Court of Justice (ECJ), the highest court of appeal for EU matters, has today ruled that trading in digital currencies, such as bitcoin, is VAT exempt.  This is on the basis that they are a method of payment – a private currency similar to national (fiat) currencies – which are VAT exempt under …


Australia $75,000 GST threshold on digital services

October 10th, 2015

Australia’s latest exposure draft for the implementation of 10% GST on digital services sold to consumers by foreign providers includes a AUD 75,000 GST registration threshold. Australia is looking to avoid the heavy compliance burden and confusion imposed on companies by the EU 2015 B2C e-services rules, introduced from 1 January 2015. Market places to …


Spain exempts bitcoin from VAT

June 28th, 2015

Spain is the latest country to exempt virtual currencies from VAT with the General Directorate of Taxes confirming that sales of bitcoins were exempt from Spanish Value Added Tax. Countries that have already exempted bitcoin transactions from VAT include: UK, Germany, Switzerland and Singapore. A number of countries, including Sweden and Poland disagree, and have …