EU Rules Bitcoin Exchange Is Now Tax-Free

The European Court of Justice (ECJ) has ruled that Bitcoin transactions are not subject to value-added tax (VAT). The judgment conveyed by the EC stated that “transactions to exchange a traditional currency for the ‘Bitcoin' virtual currency or vice versa” are not subject to VAT.

In Luxembourg, the European Union's highest court settled the matter and stated that virtual currency exchanges would be considered a means of payment and thus excused from VAT.
“It's very good news,” said Simon Dixon, CEO of bnktothefuture.com. “If you were taxed on the exchange it would make it an inferior currency to other currencies, so the implications of it being treated as a currency are that it can free flow.”

The EU court said to omit Bitcoin exchanges from the tax exemptions given to traditional exchanges “would deprive it of part of its effects,” since the aim of the exemption is to oppose “the difficulties connected with determining the taxable amount and the amount of VAT deductible” in cases of taxation of financial transactions. 

SC Magazine:http://http://bit.ly/1O2d8zH

 

« Major Cybersecurity Bill Clears US Senate
Australia Lagging in Cyber War »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

FT Cyber Resilience Summit: Europe

FT Cyber Resilience Summit: Europe

27 November 2024 | In-Person & Digital | 22 Bishopsgate, London. Business leaders, Innovators & Experts address evolving cybersecurity risks.

Perimeter 81 / How to Select the Right ZTNA Solution

Perimeter 81 / How to Select the Right ZTNA Solution

Gartner insights into How to Select the Right ZTNA offering. Download this FREE report for a limited time only.

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

ManageEngine

ManageEngine

As the IT management division of Zoho Corporation, ManageEngine prioritizes flexible solutions that work for all businesses, regardless of size or budget.

Prosperon Networks

Prosperon Networks

Prosperon Networks support SMB to Enterprise networks through the provisioning of network monitoring software, customisation, consultancy and installation.

CertiKit

CertiKit

CertiKit produce toolkit products that accelerate the adoption of ISO/IEC standards, including ISO 27001, helping organizations all over the world to realize the benefits as soon as possible.

Swimlane

Swimlane

Swimlane is a leader in security automation and orchestration (SAO). Our platform empowers organizations to manage, respond and neutralize cyber threats with adaptability, efficiency and speed.

Maven Technologies

Maven Technologies

Maven Technologies specialize in secure data destruction, electronics recycling, asset management, and highly detailed reporting.

eResilience

eResilience

eResilience is a division of Referentia Systems, a pioneer in an ultra-secure information safeguarding technique known as “Enclaving”, in which data can be segmented and protected within a network.

101 Blockchains

101 Blockchains

101 Blockchains is a professional and trusted provider of enterprise blockchain research and training.

AiCULUS

AiCULUS

AiCULUS is a global technology company that specializes in API security and Risk Management products.

cleverDome

cleverDome

cleverDome has created the first community built and proven model that redefines the standards for protecting the most confidential data and information of consumers in the cloud.

CyberQP

CyberQP

CyberQP (formerly Quickpass Cybersecurity) provide Privileged Access Management built for MSPs. Our system is designed to reduce ransomware and social engineering attack risks.

Epoch Concepts

Epoch Concepts

Offering a full line of IT services, solutions, and integration capabilities, Epoch Concepts is the trusted partner of the US military, federal agencies, private enterprises, and systems integrators.

Cryptr

Cryptr

Cryptr provides plug and play authentication to manage all your authentication strategies in one place with just a few lines of code.

OneZero Solutions

OneZero Solutions

OneZero specialize in cybersecurity operations, information assurance, computer network operations, solutions engineering, and project management.

AUCloud

AUCloud

AUCloud is a leading Australian cyber security and secure cloud provider, specialising in supporting businesses and Governments with the latest cloud infrastructure.

Worksent Technologies

Worksent Technologies

Worksent is a Trusted white-label offshore support partner for MSPs and MSSPs.

PureSoftware

PureSoftware

PureSoftware is a global software products and digital services company that is driving transformation for the world’s top organizations across various industry verticals.

Tranchulus

Tranchulus

Tranchulus are a global provider of offensive and defensive cyber solutions, information security assessment, compliance and managed security services.