Top EU court rules Bitcoin exchange tax-free in Europe
http://www.business-standard.com/article/pti-stories/top-eu-court-rules-bitcoin-exchange-tax-free-in-europe-115102200605_1.html
The EU's top court ruled today that the exchange of Bitcoin and other virtual currencies should be treated just like traditional money in Europe and not incur any sales tax.
According to European Union law, all transactions relating to currency, bank notes and coins used as legal tender across the 28-nation bloc are exempt from value-added tax (VAT).
Just as I was reading this post, i heard my father(he doesn't know a thing about them but is usually interested in having a slight idea of what it is) reading out the news to me from HT that bitcoin is now tax free in Europe.http://www.business-standard.com/article/pti-stories/top-eu-court-rules-bitcoin-exchange-tax-free-in-europe-115102200605_1.html
The EU's top court ruled today that the exchange of Bitcoin and other virtual currencies should be treated just like traditional money in Europe and not incur any sales tax.
According to European Union law, all transactions relating to currency, bank notes and coins used as legal tender across the 28-nation bloc are exempt from value-added tax (VAT).
Good thing to happen in Europe. Can someone in India file a similar petition in the court?
This petition was filed contesting a particular government's view.
We need our government to take a stand on Bitcoin; then we can bother about courts validating / overturning it.
