European Court of Justice to Rule If Bitcoin is VATable

The European Court of Justice will rule if bitcoin transactions are subject to its value-added tax rules (VAT). If that top court decides to impose VAT regulations on member nations with bitcoin businesses, they could suffer an economic setback. Others could miss out on the opportunity to establish business initiatives associated with bitcoin. VAT is one way the EU raises tax revenues. It’s essentially a consumption tax, paid by buyers as part of the purchase price. That case before the Court is C-264/14 Skatteverket v David Hedqvist and it raises the issue:…

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