Topic: [2014-04-03] BitPay moves into Amsterdam (Read 781 times)
Better for them. Bitcoins are getting in a really bad spot in US and the tax requirements etc etc... doesn't make me comfortable at all.
Hmm.. so the Caps gain tax in the Netherlands is more like the wealth tax. 1.2% is a bit high, but still better than outright banning of BTC possession.
Opening offices in the EU may not be a good idea. Any info. about the legal status of Bitcoin in the Netherlands? According to Bitlegal, it is "permissive".
Bitcoin is classed as asset/property by the Dutch government. It is taxed as such. Though the capital gains tax in the Netherlands is much simpler than the headache-inducing nightmare that is US capital gains tax. The Dutch tax department simply assumes that an annual gain on capital of 4% is achieved and taxes, 30%, are levied accordingly, which basically means that each year, a Dutch citizen pays 1.2% of the capital he had at the start of the previous year (above a certain threshold). People that stick their funds into bank accounts with crappy interest rates get the short end of the stick, people that make good returns on their investments pay relatively low taxes.
In the same statement that classified Bitcoin an asset / property, the Dutch government explicitly stated that it does not consider Bitcoin a currency and as such it is not subject to laws dealing with currency-transactions and that it does not fall under the authority of the AFM (Autoriteit Financiele Markten or Financial Markets Authority, the Dutch equivalent of FinCEN and SEC combined).
Opening offices in the EU may not be a good idea. Any info. about the legal status of Bitcoin in the Netherlands? According to Bitlegal, it is "permissive".
I suppose it's "permissive" as you said. And I think that we need to wait for a while to see whether the idea of opening office in the EU was good or not)
Opening offices in the EU may not be a good idea. Any info. about the legal status of Bitcoin in the Netherlands? According to Bitlegal, it is "permissive".
http://cointelegraph.com/post/bitpay_moves_into_amsterdam#.Uz1ENvl_tqU
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The launch of our new brand and logo aligns with our open-source culture. It’s also an exciting time in the Bitcoin space and with the opening of our new office in Amsterdam, we are looking to hire the world’s best developers to build the world’s best payment system.
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