Re:Virtual currencies can be exchanged tax-free in Europe af...
by acaloiar on Thursday October 22, 2015 @03:50PM
(#10434575)
> what's different about taxes in regards to bitcoin vs. government currency
The difference is that Bitcoin is now recognized as a currency, and as such is not subject to VAT when one wishes to, for example, exchange Euros for Bitcoin. Previously, EU residents would pay VAT on such an exchange because Bitcoin were more or less recognized as a good or service, and thus subject to VAT.
The difference is that Bitcoin is now recognized as a currency, and as such is not subject to VAT when one wishes to, for example, exchange Euros for Bitcoin. Previously, EU residents would pay VAT on such an exchange because Bitcoin were more or less recognized as a good or service, and thus subject to VAT.