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European Court states bitcoinhandel from VAT
Virtual currencies are not subject goods, leaving no VAT on trade has to be paid in bitcoins. This has given the European Court of Justice. Bitcoins and other virtual currency should the Court and any other currency to be treated.
Court of Justice of the European Union This adds a new chapter to the global debate on whether bitcoin should be seen as currency or as a product. A month ago some of the Commodity Futures Trading Commission in the US mean that bitcoin is to be seen as a product or commodity. In May last year, Japan also classified the currency as a commodity. With the verdict of the European Court shows that Europe is not to go on.
The problem of the treatment of bitcoin and VAT duty was submitted to the court by the Swedish tax, because it was felt that a Swedish bitcoinhandelaar, David Hedqvist, but had to pay VAT on the purchase and sale of bitcoins. Earlier, a Swedish court of the Högsta förvaltningsdomstolen or Supreme Administrative Court, have ruled against Hedqvist said it bitcoin was from VAT. The request for was a decision on the treatment of bitcoin filed on June 2nd, 2014 at the European court.
With the ruling, the Court bitcoins and other virtual currency equivalent to ‘normal’ money. It follows that the trade should be treated like other dealings with coins of different origins or forexViewing:-151
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