Bitcoin classified as a currency. No VAT for BTC also in Switzerland.

Amph

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Quote from: zodiac3011 on November 19, 2015, 11:30:43 AM

Quote from: coingiant1 on November 19, 2015, 11:12:31 AM

Demand for Bitcoin will go up if such governments classify Bitcoin as a currency. And people will feel safe to trade with bitcoinBTC

Actually Switzerland demand only can't make changes to bitcoin world, we need some big guys to get in so the adoption rate of bitcoin increases

you don't need one big guy alone, you need many big governement to change their mind about bitcoin, and let it be free to use or regualted it not ban it like they are doing

china russia usa are a good start, then europe

bitart

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Quote from: fuddudle on November 19, 2015, 09:36:37 PM

Quote from: countryfree on June 17, 2015, 02:03:39 PM

Frankly, this isn't a surprise. There's no VAT issue with BTC, the real issue is tax on capital, but then it would be tricky to enforce. Unless you're an early miner selling a large quantity of BTC, the average BTC to cash transaction will go unnoticed.

My bank decided to close my account one day and wouldn't tell me why. The only 'dodgy' thing i can think of is the LBC bitcoin activity. Which has all been very positive. Volume has been very small too.

Have you just transfrerred your funds into the BTC world, or you have also received transfers from some international bank account in connection with BTC transactions? Is it an online bank only or it has branches in your city? Maybe you can ask for clarification

fuddudle

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Quote from: countryfree on June 17, 2015, 02:03:39 PM

Frankly, this isn't a surprise. There's no VAT issue with BTC, the real issue is tax on capital, but then it would be tricky to enforce. Unless you're an early miner selling a large quantity of BTC, the average BTC to cash transaction will go unnoticed.

My bank decided to close my account one day and wouldn't tell me why. The only 'dodgy' thing i can think of is the LBC bitcoin activity. Which has all been very positive. Volume has been very small too.

minibit

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Quote from: bargain on November 17, 2015, 05:40:54 PM

Quote from: jurij.timofejev on June 15, 2015, 03:56:57 AM

''The United Kingdom, Germany, France, Belgium, Finland, and most recently, Spain have all classified digital currency transactions as exempt from VAT.''

“Treating Bitcoin payments just like any other payment option is a huge milestone for the Swiss Bitcoin economy, and enriches the global digital money ecosystem.”

Read more: http://bravenewcoin.com/news/switzerland-reportedly-eliminates-vat-for-bitcoin-transactions/

They couldn't not accept it. The EU high court specified that BTC is a currency and cannot be taxed. Switzerland would have had to have left the EU in order to tax bitcoin.

Switzerland is not (and won't be in near future) a member of the political structure called "Europe Union".

Edit:
And i highly doubt that lot of mining gear will be moved to Switzerland. Power prices here are really expensive. In my city, i pay about 0.25 CHF per kWh. I quitted mining over a year ago. The best thing about Switzerland for mining is reliability of power grid. I can't remember when we had our last outage...

zodiac3011

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Quote from: Denker on November 19, 2015, 11:45:24 AM

Quote from: zodiac3011 on November 19, 2015, 11:30:43 AM

Quote from: coingiant1 on November 19, 2015, 11:12:31 AM

Demand for Bitcoin will go up if such governments classify Bitcoin as a currency. And people will feel safe to trade with bitcoinBTC

Actually Switzerland demand only can't make changes to bitcoin world, we need some big guys to get in so the adoption rate of bitcoin increases

These process of adoption takes time.Maybe way more as many here expect. But I'm positive that soon we will see some major growing in adoption and price.Halving isn't far anymore.That could be an trigger event.

Yeah I am having the same idea about the halving may trigger a mass adoption just like China's law triggers the pump in bitcoin's price and the adoption

Denker

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Quote from: zodiac3011 on November 19, 2015, 11:30:43 AM

Quote from: coingiant1 on November 19, 2015, 11:12:31 AM

Demand for Bitcoin will go up if such governments classify Bitcoin as a currency. And people will feel safe to trade with bitcoinBTC

Actually Switzerland demand only can't make changes to bitcoin world, we need some big guys to get in so the adoption rate of bitcoin increases

These process of adoption takes time.Maybe way more as many here expect. But I'm positive that soon we will see some major growing in adoption and price.Halving isn't far anymore.That could be an trigger event.

zodiac3011

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Quote from: coingiant1 on November 19, 2015, 11:12:31 AM

Demand for Bitcoin will go up if such governments classify Bitcoin as a currency. And people will feel safe to trade with bitcoinBTC

Actually Switzerland demand only can't make changes to bitcoin world, we need some big guys to get in so the adoption rate of bitcoin increases

coingiant1

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Demand for Bitcoin will go up if such governments classify Bitcoin as a currency. And people will feel safe to trade with bitcoinBTC

Raimonn

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Quote from: bargain on November 17, 2015, 05:40:54 PM

Quote from: jurij.timofejev on June 15, 2015, 03:56:57 AM

''The United Kingdom, Germany, France, Belgium, Finland, and most recently, Spain have all classified digital currency transactions as exempt from VAT.''

“Treating Bitcoin payments just like any other payment option is a huge milestone for the Swiss Bitcoin economy, and enriches the global digital money ecosystem.”

Read more: http://bravenewcoin.com/news/switzerland-reportedly-eliminates-vat-for-bitcoin-transactions/

They couldn't not accept it. The EU high court specified that BTC is a currency and cannot be taxed. Switzerland would have had to have left the EU in order to tax bitcoin.

Switzerland is on Europe, but not in EU (European Union) the high court of EU don't afect Swiss decisions.

zodiac3011

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Quote from: mouneshwar123 on November 19, 2015, 08:53:30 AM

It is safe to play with bitcoins now. Even if it is banned in some countries, only one country that will accept bitcoin and internet is enough. And that's Switzerland. Bitcoin is much safer than before. The more number of governments accept bitcoin the more value it will gain.

they want to get rid of paper money so yeah... Bitcoin is also an option for its citizen too Grin

and there's nothing bad with bitcoin at all!

mouneshwar123

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It is safe to play with bitcoins now. Even if it is banned in some countries, only one country that will accept bitcoin and internet is enough. And that's Switzerland. Bitcoin is much safer than before. The more number of governments accept bitcoin the more value it will gain.

bargain

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Quote from: jurij.timofejev on June 15, 2015, 03:56:57 AM

''The United Kingdom, Germany, France, Belgium, Finland, and most recently, Spain have all classified digital currency transactions as exempt from VAT.''

“Treating Bitcoin payments just like any other payment option is a huge milestone for the Swiss Bitcoin economy, and enriches the global digital money ecosystem.”

Read more: http://bravenewcoin.com/news/switzerland-reportedly-eliminates-vat-for-bitcoin-transactions/

They couldn't not accept it. The EU high court specified that BTC is a currency and cannot be taxed. Switzerland would have had to have left the EU in order to tax bitcoin.

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Quote from: Hazir on November 17, 2015, 10:41:02 AM

Quote from: RKing on November 17, 2015, 04:02:54 AM

Quote from: zodiac3011 on November 03, 2015, 10:30:54 AM

Bitcoin is made to be a currency so why the hell does the government even have tax on it? It's not some kinds of product. It's money and the countries which abolish VAT for BTC are the ones which are not high right now

If the US and Europe treat bitcoin as a currency, other countries will follow. It is just a matter of time that other countries will adopt the same approach.

Not exactly the case here. There are more major players out there who don't usually follow EU and US legislative process, mainly China and Russia.
I wouldn't be surprised that these countries followed different path just to be different from Western World.

Russia probably, China I don't think so! I am actually quite surprised with the vibes coming from China lately! They seem more and more open to the Bitcoin!

Russia on the other hand will probably be very strict towards the Bitcoin and will do everything to control it as much as possible!

bitart

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Quote from: zodiac3011 on November 17, 2015, 09:33:24 AM

Quote from: RKing on November 17, 2015, 04:02:54 AM

Quote from: zodiac3011 on November 03, 2015, 10:30:54 AM

Bitcoin is made to be a currency so why the hell does the government even have tax on it? It's not some kinds of product. It's money and the countries which abolish VAT for BTC are the ones which are not high right now

If the US and Europe treat bitcoin as a currency, other countries will follow. It is just a matter of time that other countries will adopt the same approach.

they just the blockchain technology not the blockchain's first child! They gonna use it and create for themselves something centralized Grin

I've also heared that some of the EU central banks are planning to implement prompt bank transfers to reduce transaction time. They would like to change from the old clearing system to something new but they haven't highlited the technical details yet. It can be easy to think that they are developing a ledger type system but of course in a centralized way

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Quote from: RKing on November 17, 2015, 04:02:54 AM

Quote from: zodiac3011 on November 03, 2015, 10:30:54 AM

Bitcoin is made to be a currency so why the hell does the government even have tax on it? It's not some kinds of product. It's money and the countries which abolish VAT for BTC are the ones which are not high right now

If the US and Europe treat bitcoin as a currency, other countries will follow. It is just a matter of time that other countries will adopt the same approach.

Not exactly the case here. There are more major players out there who don't usually follow EU and US legislative process, mainly China and Russia.
I wouldn't be surprised that these countries followed different path just to be different from Western World.

zodiac3011

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Quote from: RKing on November 17, 2015, 04:02:54 AM

Quote from: zodiac3011 on November 03, 2015, 10:30:54 AM

Bitcoin is made to be a currency so why the hell does the government even have tax on it? It's not some kinds of product. It's money and the countries which abolish VAT for BTC are the ones which are not high right now

If the US and Europe treat bitcoin as a currency, other countries will follow. It is just a matter of time that other countries will adopt the same approach.

they just the blockchain technology not the blockchain's first child! They gonna use it and create for themselves something centralized Grin

RKing

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Quote from: zodiac3011 on November 03, 2015, 10:30:54 AM

Bitcoin is made to be a currency so why the hell does the government even have tax on it? It's not some kinds of product. It's money and the countries which abolish VAT for BTC are the ones which are not high right now

If the US and Europe treat bitcoin as a currency, other countries will follow. It is just a matter of time that other countries will adopt the same approach.

zodiac3011

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Quote from: CryptoBjorn on November 16, 2015, 05:26:23 AM

Quote from: bitart on October 09, 2015, 05:35:58 PM

Switzerland was always independent, even in the world wars. This is why money likes Switzerland, but since the major countries agreed to share the details of the secret bank accounts, it's shine had fade a bit.
But if Switzerland likes Bitcoin, I'm really happy and looking forward for it's positive effects

The more the better.Every country that supports/condone bitcoin is good. Be it Switzerland or Brazil.

However if any G20 country will do it, the impact would be big. Since other (G20) countries would at least consider it.

that will pump the price up really fast if one of the G20 remove VAT Grin

CryptoBjorn

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Quote from: bitart on October 09, 2015, 05:35:58 PM

Switzerland was always independent, even in the world wars. This is why money likes Switzerland, but since the major countries agreed to share the details of the secret bank accounts, it's shine had fade a bit.
But if Switzerland likes Bitcoin, I'm really happy and looking forward for it's positive effects

The more the better.Every country that supports/condone bitcoin is good. Be it Switzerland or Brazil.

However if any G20 country will do it, the impact would be big. Since other (G20) countries would at least consider it.

n691309

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Well the Switzerland country is known for freedom and is known for "neutralism" i think that this is a big step for bitcoin.

Topic: Bitcoin classified as a currency. No VAT for BTC also in Switzerland. (Read 3503 times)