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Bitcoin exempted from VAT.

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Bitcoin vat

Bitcoin transactions are exempt from value added tax (VAT), according to the European Court of Justice.

In a statement to Financial Times, the European Court of Justice said that they do not need to pay VAT anymore .

This is the first step in securing bitcoin’s future as a genuine alternative to national currencies.

European Court of Justice decision is long awaited and comes after Attorney General Juliane Kokott urged the court restrain from charges for purchases and sales via Bitcoin, in an article released in July.

European Court began to study taxing currency Bitcoin in June last year after Sweden tax office: Skatterverket has questioned a court which stated that transactions Bitcoin in the country should be exempt from VAT .