Topic: Good news regarding Bitcoin and VAT in Sweden - page 2. (Read 10287 times)
This is indeed good news. We've also seen developments on the taxation side in Finland. As far as I understand, this is also the case in Finland, so no VAT when selling bitcoins. Right now we're looking at selling bitcoins with a Bitcoin ATM without any VAT. Fees can be included in the exchange rate and no VAT required at all. This is a very positive development.
woah congrats on getting this done
This is related to the thread Bitcoin and VAT in the EU but I think that it deserves its own thread. About a year ago I requested an advance ruling from Skatterättsnämnden (“the tax board”?) in Sweden regarding Bitcoin and VAT. An advance ruling in this case means that their decision is legally binding for the tax agency in Sweden (“Skatteverket”) and a general administrative court (“allmän förvaltningsdomstol”) if the applicant wants to use it. The case that I presented was that I would be buying bitcoins from an exchange (e.g. Mt.Gox) and then sell them on to Swedish customers. Last week I finally received their decision and it was good news!
First of all, they state that exchanging between regular currency and Bitcoin does not imply consumtion, i.e. Bitcoin is not treated as a good or a service, so there is no VAT on bitcoins themselves. With regards to VAT it is treated as any other currency.
Second of all, they reach the decision that the service that I provide is also excempt from VAT, i.e. there should be no VAT added to the commission that I would take.
I have written about this in Swedish on bitcoin.se with some quotes from the ruling but it is hard for me to translate the legal stuff to english. I only have it on paper right now but the ruling will be public on the homepage of Skatträttsnämnden, hopefully later this week.
First of all, they state that exchanging between regular currency and Bitcoin does not imply consumtion, i.e. Bitcoin is not treated as a good or a service, so there is no VAT on bitcoins themselves. With regards to VAT it is treated as any other currency.
Second of all, they reach the decision that the service that I provide is also excempt from VAT, i.e. there should be no VAT added to the commission that I would take.
I have written about this in Swedish on bitcoin.se with some quotes from the ruling but it is hard for me to translate the legal stuff to english. I only have it on paper right now but the ruling will be public on the homepage of Skatträttsnämnden, hopefully later this week.
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