‘Bitcoin Should be Exempt from VAT,’ Says EU Court Advisor – Bitcoints

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Published on July 19th, 2015 | by bitcoin

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‘Bitcoin Should be Exempt from VAT,’ Says EU Court Advisor

The legal advisor of the Court stated that digital currencies should be exempted from VAT.
Although the Court hasn’t officially confirmed the decision, it’s more than likely that it will follow the advice of its attorney general.

There are few countries that have already developed legislative base for bitcoin but they didn’t come to an agreement on the matter.

One of its representatives Tim Rehder, CEO of bitcoin marketplace Cubits, expresses general opinion saying that potential exemption bitcoin transactions from VAT“ puts all bitcoin businesses onto solid legal grounds and recognizes bitcoin as a legitimate medium of payment”.

Bitcoin has been seeing more regulation recently and it gives evidence that authorities started to treat the currency seriously.

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