Are you aware of Bitcoin VAT Exemption? In an opinion document published the 16th of July, the Advocate General of the European Court of Justice said that Bitcoin operations
should be exempt from Value Added Tax (VAT).
Actually, bitcoin is exempt from value-added tax in many countries such as:
- Spain
- United Kingdom
- Germany
Nervertheless, Belgium, Finland or Switzerland have stated that the exemption must be applied in their countries, too.
Bitcoin is considered as a medium of payment or a financial instrument, that’s why is classified as a financial service rather than a simple good or commodity.