Published on July 19th, 2015 | by bitcoin0
European Bitcoiners React to VAT Exemption Proposal
Bitcoin entrepreneurs and digital currency enthusiasts in the European Union (EU) have spoken out following the European Court of Justice’s (ECJ) proposal for bitcoin’s exemption from Value Added Tax (VAT).
Bitcoin’s exemption from VAT is crucial for companies and ordinary people who want to be full scale users of bitcoin payments – which is its prime and natural function.
“As previously reported, Poland imposed a 23% VAT on bitcoin mining profits, but its position on bitcoin exchanges continues to remain unclear.
John Collins, a policy and public affairs officer at Coinbase urged EU member countries to pay attention to the exemption.
Excellent news from the ECJ regarding VAT exemption of bitcoin http://t.
co/NpSb9Z8Q0G Countries should take note— John Collins (@JohnCollins) July 16, 2015EU flag image via Shutterstock.