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  • LONDON (InsideBitcoins) — As of January 1st, the European Union instituted new rules regarding electronic services as a taxable commodity. Whilst not directed at bitcoin specifically, the directive refers to supplying a ‘digital service’ to another member state and as such one clear requirement for the supplier would be determining if they are providing this […]

  • Changes to Switzerland’s value-added tax rules will come into effect from January 1, 2015, through changes to the Value-Added Tax Ordinance. In changes approved in November, foreign companies will be liable to register and account for VAT on supplies made in Switzerland if their turnover in Switzerland amounts to at least CHF100,000 (USD103,600). This change […]

  • An estimated €177 billion in VAT revenues was lost due to non-compliance or non-collection in 2012, according to the latest VAT Gap study published by the Commission today. This equates to 16% of total expected VAT revenue of 26 Member States. The VAT Gap study sets out detailed data on the difference between the amount […]

  • A Limavady businessman jailed for fraudulent VAT repayments has been ordered to pay £113,472 or serve a further three years in prison. Mark McAteer, 32, from Gortnarney Road, Limavady, was jailed in May 2013 after he had claimed to be building water purification plants in Basra and Mosul in Iraq. He told suppliers he needed […]

  • AS MANY as 30 companies owe the state about €100m in VAT, according to data revealed by Politis yesterday. Of the 30 legal entities, two of them (or their directors) cannot be traced, while criminal prosecutions are pending against another seven. The data was prepared by tax authorities and handed to parliament at the latter’s […]

  • On September 17th 2014, the Grand-Duchy of Luxembourg inaugurated its Freeport, a facility constructed at the Luxembourg airport next to the Air Cargo Terminal for storage, handling and trading of goods such as works of art, precious metals, wine, jewellery and other valuable goods. Within the context of the creation of the Freeport, the Luxembourg government […]

  • Earlier today the ATO released its long awaited public guidance on the Australian tax and GST treatment of bitcoin and other crypto-currencies.  This guidance was originally scheduled to be released on 30 June 2014.  It was delayed while the ATO considered further submissions and sought advice from legal counsel.  The issues raised in the ATO’s […]