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EU court advisor says bitcoin should be exempt from VAT

17 July 2015  |  8276 views  |  0 Bitcoin

Cryptocurrencies such as bitcoin should be exempt from value-added tax (VAT), according to a European Court of Justice lawyer.

Advocate General Juliane Kokott came to the conclusion after Sweden asked the court to provide guidance on bitcoin's tax status.

An official response has not yet been made but if Kokott's opinion holds sway it could set a European Union-wide rule.

According to Reuters, Sweden turned to the court after a bitcoin forum moderator asked for guidance ahead of plans to sell the currency.

The UK, Spain and Belgium are among the countries to have already decided to make bitcoin VAT exempt, although Estonia has taken the opposite different approach.

KeywordsLEGAL

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