VAT news tagged as "Virtual currencies"

Europe

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 …


Spain

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 …


Switzerland

Switzerland exempts bitcoin from VAT

June 17th, 2015

Switzerland is to become the latest European country to exempt the trading of digital currencies, such as bitcoin, from VAT. The decision, to be made public by the Swiss Federal Tax Administration, underlines the view of the majority of tax administrations that virtual currencies are private money for the exchange of goods and services. They …