EU's Top Court Rules That Bitcoin Exchange Is Tax-Free
Bitcoin got a boost at the European Union’s top court after judges said exchanging virtual currencies should be exempt from value-added tax in the same way as traditional cash.
In a ruling that puts Bitcoin on a more equal footing with mainstream money, the EU Court of Justice sided with Swede David Hedqvist who set up a service for the exchange of mainstream money for bitcoin and vice versa. VAT, a type of sales tax, shouldn’t be charged because the business involves “the exchange of different means of payment,” the judges said.
Read more here: https://www.bloomberg.com/news/articles/2015-10-22/bitcoin-virtual-currency-exchange-is-tax-free-eu-court-says-ig21wzcd
This good new would have never thought this i figured they would have taxed the shit outta it
who has sold Bitcoin on this site and had tax responsibilities? I can't imagine there is not a U.S tax on profits from selling Bitcoin.
Good News
Love it