EU's highest court exempts Bitcoin currency from sales tax

AP News
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Posted: Oct 22, 2015 5:01 AM

LUXEMBOURG (AP) — The European Union's top court says the Bitcoin virtual currency that is used online and over the Internet should be exempt from sales taxes within the 28-country bloc.

The European Court of Justice said Thursday that there was no reason to treat Bitcoin differently than other transactions involving "currency, bank notes and coins used as legal tender."

The Court made its ruling following a complaint by a Swedish citizen wanting to provide a service on the exchange of Bitcoin with other traditional currencies with the arguments that the service should be tax-free.