Quote from: Kakmakr link=topic=3892294.msg37535106#msg37535106
So how are they going to tax it then? In most countries they define Bitcoin as a commodity when it is traded on exchanges, so the traders have to pay Capital Gain taxes on their profits. VAT is supposed to be charged, when Bitcoin is used as a currency.
In the end it comes down to the use case. If you use it as a currency, then you pay VAT and when you trade with it and you make a profit, then you pay Capital gains on the profit.
In the end it comes down to the use case. If you use it as a currency, then you pay VAT and when you trade with it and you make a profit, then you pay Capital gains on the profit.
I don’t thing any country charges VAT on currency transactions. If you think about it, what is the value you are adding by buying and selling currencies? Exchanges which charge a fee or commission may have to pay VAT, but not individual traders. Traders would be liable for capital gains tax.
