Europe’s top court has ruled that purchasing bitcoin through exchanges will not be subject to value added tax (VAT) in a decision that has far-reaching implications on the continent for the viability of the world’s most popular cryptocurrency.
The European Court of Justice ruled Thursday that digital currencies like bitcoin should be treated in the same way as fiat currency and consumers should not be taxed when trying to buy or sell them. The Financial Times reports the ECJ said bitcoin transactions “are exempt from VAT under the provision concerning transactions relating to currency, bank notes and coins used as legal tender.”
Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
