Sweden's news in English

Editions:  Europe · Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Sweden demands EU clarity on Bitcoin tax

Share this article

Sweden demands EU clarity on Bitcoin tax
Photo: Mark Lennihan/TT
08:13 CEST+02:00
With EU countries' treatment of Bitcoin varying vastly, Sweden has asked for clear EU rules stipulating whether or not the cryptocurrency should be taxed.

European nations are still scratching their heads when it comes to handling cryptocurrencies such as Bitcoin, with no consensus on whether the digital currency should be taxable.

The UK determined earlier this year that Bitcoin transactions will not be subject to Value Added Tax (VAT), as there is an "insufficient link between any services provided and any consideration received". Meanwhile, countries such as Poland and Estonia decided that any Bitcoin trading exchanges are indeed subject to full taxation.

Sweden got tired of wondering, and in June the country's Supreme Administrative Court (Högsta förvaltningdomstolen) filed a request for answered from the European Court of Justice.

Sweden is now waiting for an EU ruling which will determine once and for all if Bitcoin should be considered as currency, exempt from VAT, or simply a method of payment subject to full fees.  

 
Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

New Malmö museum will focus on ‘democracy and migration'

Change starts with one small step, whether it be a large or small scale project, it all requires movement. It's a logic that can be applied to starting a new national museum from scratch, especially one with an innovative theme that is going to take several years to come to fruition.