No VAT for Bitcoin

The European Court of Justice has handed down the ruling that Bitcoin will be handled in the same way as traditional currencies with exemption from value added tax.

The court found that Bitcoin transactions are no different than those involving any other currency.

The case made its way to court per the request of Swedish authorities after the Hedqvist case, which involved an online forum moderator’s application to offer Bitcoin transactions yet disputed the assessment of VAT.

Since the new broke regarding the court’s decision, the value of Bitcoin has increased to $280 at the time this article was written.
  • No avatar medium

    OOPaloo

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    Where does the value behind bitcoin reside? I am confused I know that various governments back the value of their currency by a guarantee that the notes will be backed by the treasury of any given country. But Bitcoin was born in cyberspace in some kind of esoteric techy mining the internet scheme....what gives? I admit my knowledge about how all this works is dreadful, but a neat little laymans explanation of how this currency is just as legitimate would be appreciated. thanks...
  • Jade lcb

    jade

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    Sure this is good for Bitcoin, I think. But, Bitcoin isn't the same as traditional currencies. If it was, I don't think it would be something that US players could use at online casinos. It is good that other governments think that it is and maybe it will be someday. Until then, I am grateful that it is here and it is what it is. Make sense?
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    iDark

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    Nice info for bitcoin, as a currency and also for this product users. No vat taxes means, flexibility remains and that's the main fact, why there are so many fans of this currency, all over the world. Trust, fast, safe and minimum cost. The best conditions to remain popular for BitCoin users.

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