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Bitcoin Exempt From VAT Says European Court of Justice
An anonymous reader writes: The European Court of Justice (ECJ) proposes that Bitcoin should be exempt from Value Added Tax (VAT). This news has been positively received by the Bitcoin community in the EU, as member states are not likely going to apply VAT to purchases and sales of Bitcoin. A clear cut argument brought up by Advocate General Juliane Kokott, was that VAT is commonly applied to goods and services which have an end consumer. Bitcoin is neither a good, nor a service and has no end consumer, as Bitcoins are eternally transferable just like normal currency. Bitcoin exchanges such as Coinbase, Kraken, Bitstamp, and Bitfinex will all benefit from this ruling, which may lead to other countries across the globe to follow a similar approach.
The point being that bitcoin is simply not recognised by court as a valid currency. VAT is about paying in currency.
And mind you, only idiots paint "Europeans" as some kind of a monoculture. We have Greek who openly say that the only way they will pay taxes is through foreign oppression and then you have people who think that paying taxes is a great way to fund wide reaching social security for everyone.
Bitcoin is STILL a thing? There's STILL idiots out there who thinks it has any value and willing to pay for it?
Wow... Just... Wow.
Yes, it still has value. Even more so now that the craze has died down. It is used more and more like a currency rather than for speculation.
use a nanocard and it'll convert your bitcoin holdings to a mastercard credit at the point of sale. Then you can shop anywhere BTC is directly taken and any place that takes a mastercard.