If treating it as a currency, can you imagine if you converted between Euro and Dollar for a holiday or business trip and had to pay tax for the privilege of converting it to spend it?
If treating it as a commodity/Futures, what would the tax be compared to Wheat/Corn/Pork Bellies?
When I was a commodity trader in UK, my accountant told me I wouldn't be able to treat any losses as tax deductible, but profits would be taxable. Nice...(not).
Maybe there is an angle for them on income tax, but that would be the only one, and really I think they should back off a little there as well since it's not government issued notes.
Topic: Rally!!!!! - page 5. (Read 31586 times)
no vat in europe is E X T R E M L Y good news.
... and it is a roadmap for rest of the World.
Amen. I think this will have an impact if it passes. The good news just keeps coming.
no vat in europe is E X T R E M L Y good news.
... and it is a roadmap for rest of the World.
no vat in europe is E X T R E M L Y good news.
http://www.reuters.com/article/2015/07/16/eu-bitcoin-tax-idUSL5N0ZW3VF20150716
This is huge. Mostly because the alternative would be disastrous, but still. RALLY!
Quote from: Reuters
Bitcoin should be exempt from VAT
COPENHAGEN, JULY 16
Digital currencies like bitcoin should be exempt from value-added tax (VAT), the legal adviser to the European Union's highest court said on Thursday, in a case that could set a rule across the bloc.
Sweden has asked the European Court of Justice to give it guidance on the tax status of bitcoin, to end legal uncertainty over the unit that is not backed or controlled by any government or central bank.
The Luxembourg-based court, set up to make sure EU law is applied equally across member states, is still considering the application but often follows the advice of its advocates-general.
The business of exchanging bitcoin for other currencies counted as a transaction which was exempt from duty under EU VAT regulations, Advocate General Juliane Kokott wrote in her opinion.
Bitcoin-focused businesses welcomed her view, though the court has not said when it will reach a final decision.
"It puts all bitcoin businesses onto solid legal grounds and recognizes bitcoin as a legitimate medium of payment," Tim Rehder, chief executive of London-based bitcoin marketplace Cubits, told Reuters.
Sweden approached the court after David Hedqvist, a bitcoin web-forum moderator, asked for a ruling on the issue in Sweden because he wanted to start selling the digital currency.
"We're happy that the advocate general shares our assessment and we hope that the EU court will share it as well," Hedqvist's lawyer Fredrik Berndt told Reuters.
A few countries have brought in legislation covering bitcoin, but have taken different approaches.
Australia has said transactions are liable to its goods and services tax, while Britain has made them exempt from VAT.
(Reporting By Alexander Tange; Additional reporting by Jemima Kelly in London; Editing by Sabina Zawadzki and Andrew Heavens)
http://www.reuters.com/article/2015/07/16/eu-bitcoin-tax-idUSL5N0ZW3VF20150716
COPENHAGEN, JULY 16
Digital currencies like bitcoin should be exempt from value-added tax (VAT), the legal adviser to the European Union's highest court said on Thursday, in a case that could set a rule across the bloc.
Sweden has asked the European Court of Justice to give it guidance on the tax status of bitcoin, to end legal uncertainty over the unit that is not backed or controlled by any government or central bank.
The Luxembourg-based court, set up to make sure EU law is applied equally across member states, is still considering the application but often follows the advice of its advocates-general.
The business of exchanging bitcoin for other currencies counted as a transaction which was exempt from duty under EU VAT regulations, Advocate General Juliane Kokott wrote in her opinion.
Bitcoin-focused businesses welcomed her view, though the court has not said when it will reach a final decision.
"It puts all bitcoin businesses onto solid legal grounds and recognizes bitcoin as a legitimate medium of payment," Tim Rehder, chief executive of London-based bitcoin marketplace Cubits, told Reuters.
Sweden approached the court after David Hedqvist, a bitcoin web-forum moderator, asked for a ruling on the issue in Sweden because he wanted to start selling the digital currency.
"We're happy that the advocate general shares our assessment and we hope that the EU court will share it as well," Hedqvist's lawyer Fredrik Berndt told Reuters.
A few countries have brought in legislation covering bitcoin, but have taken different approaches.
Australia has said transactions are liable to its goods and services tax, while Britain has made them exempt from VAT.
(Reporting By Alexander Tange; Additional reporting by Jemima Kelly in London; Editing by Sabina Zawadzki and Andrew Heavens)
http://www.reuters.com/article/2015/07/16/eu-bitcoin-tax-idUSL5N0ZW3VF20150716
This is huge. Mostly because the alternative would be disastrous, but still. RALLY!
people get happy just because the price went up a few bucks. that's sad. i get excited once we're over the $300 level. any movements below $300 aren't worth waiting for.
Well you should be happy now, 310 barrier broken and going up without any signs of stopping
Some people only see what's in front of their nose. That's really dumb but thanks to them people like me can take most of the profit. I saw this coming ever since the weekly parabolic SAR flipped the side 5 weeks ago and that's what made me happy.
if all people were pro traders there wouldn't be a market such as we have now. bitcoin currently feels less undervalued and due for another up movement this month.
Oh Yeah!!!
november 13 rally was like this:
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the epic rally of 2015 will look like this:
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the epic rally of 2015 will look like this:
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people get happy just because the price went up a few bucks. that's sad. i get excited once we're over the $300 level. any movements below $300 aren't worth waiting for.
Well you should be happy now, 310 barrier broken and going up without any signs of stopping
Some people only see what's in front of their nose. That's really dumb but thanks to them people like me can take most of the profit. I saw this coming ever since the weekly parabolic SAR flipped the side 5 weeks ago and that's what made me happy.
This, on the other hand, has much more potential in creating an actual rally.
cheers
cheers
248$ and increasing,
we were at above 250 some day ago, i'm not satisfied at all, i'll begin to be excited when we touch 260-275 range at least
people get happy just because the price went up a few bucks. that's sad. i get excited once we're over the $300 level. any movements below $300 aren't worth waiting for.
Well you should be happy now, 310 barrier broken and going up without any signs of stopping
What's the inside scoop behind this mini rocket?
meanwhile:
Well that's a news every bitcoin owner will be happy with. With another speculation of China pumping bitcoin, the price will really go beyond $300 by the end of the month and hopefully we'll hit $1000 again by the end of the year.
$294 now although I'm pretty surprised that almost half a day after a sudden $25-$30 upswing we haven't seen more of a retrace.
Western exchanges ONLY.
See attached pic:
No resistance to 300 in China. There's just those pesky ~4000 BTC on Finex. Eat those and we dine in hell.
Prepare to be part of the new elite gentlemen
I'm still trying to get used to it breaking out of the $300 range
I'm hoping that's just a start!
I'm hoping that's just a start!
This is a rally inside a rally. It's called acceleration.
$294 now although I'm pretty surprised that almost half a day after a sudden $25-$30 upswing we haven't seen more of a retrace.
Western exchanges ONLY.
See attached pic:
No resistance to 300 in China. There's just those pesky ~4000 BTC on Finex. Eat those and we dine in hell.
This is a rally inside a rally. It's called acceleration.
$294 now although I'm pretty surprised that almost half a day after a sudden $25-$30 upswing we haven't seen more of a retrace. That has me wondering if another upward pop isn't just around the corner.
oh shit, all china markets > 300 already
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