​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….
via traders – Google Blog Search:
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, …
For more info: ​UK to cancel VAT on bitcoin trading � RT Business – RT.com
​UK to cancel VAT on bitcoin trading � RT Business – RT.com
The post ​UK to cancel VAT on bitcoin trading � RT Business – RT.com appeared first on FX FOREX.
via WordPress http://ift.tt/1kUUPL3
Trading, banking, bankruptcy, bitcoin, bitcoins, currency, customs, finance, hack, king, revenue, taxes, trade
