​UK to cancel VAT on bitcoin trading � RT Business – RT.com

​UK to cancel VAT on bitcoin tradingPublished time: March 03, 2014 12:59Get short URLReuters / Bobby YipTagsBanking, Budget, Finance, Trade, UKBritain’s tax authority is to stop charging value-added tax (VAT) on Bitcoin transactions. It’s just a couple of days after one of the world’s biggest exchanges Mt. Gox collapsed, which has added to growing worldwide skepticism about the currency.In a meeting with UK traders, HM Revenue & Customs said it would no longer charge a 20 percent tax on trades or margins of the controversial virtual payment method. Corporation tax and other taxes would still apply, according to the FT.The tax authority said: “HMRC has been working closely with the Bitcoin industry on the tax treatment of trading in Bitcoins and commission. We will be issuing guidance shortly….

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In a meeting with UK traders, HM Revenue & Customs said it would no longer charge a 20 percent tax on trades or margins of the controversial virtual payment method. Corporation tax and other taxes would still apply, …

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​UK to cancel VAT on bitcoin trading � RT Business – RT.com

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Is China Important for Bitcoin?

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Despite the high volatility in the price of Bitcoin, it continues to hover close to the $1,000 mark. Even the news of China’s boycott of the virtual currency didn’t dampen Bitcoin users and investors from holding on to it. Some…

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Is China Important for Bitcoin?

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Indian feds raid Bitcoin exchange as other traders suspend service …

On Tuesday, the Reserve Bank of India sent out a stern warning against trade in Bitcoin and other virtual currencies, stating that the currencies were not approved by the central bank and more ominously that “the traders of VCs on such platforms are exposed to legal as well as financial risks.” It was an ambiguous message, seen by many as a restatement of the fundamental risks of virtual currency, but just a few days later, one exchange found out about those legal risks the hard way.On Thursday, officers from India’s federal Enforcement Directorate raided the offices of buysellbit.co.in, a prominent exchange in the Indian city of Ahmedabad. “We have found that through the website 400 persons have recorded 1,000 transactions,” one official told DNA …

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On Tuesday, the Reserve Bank of India sent out a stern warning against trade in Bitcoin and other virtual currencies, stating that the currencies were not approved by the central bank and more…

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Indian feds raid Bitcoin exchange as other traders suspend service …

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