Post
Topic
Board Economics
Re: Bitcoin classified as a currency. No VAT for BTC also in Switzerland.
by
Slark
on 06/11/2015, 21:34:11 UTC
Bitcoin is made to be a currency so why the hell does the government even have tax on it? It's not some kinds of product. It's money and the countries which abolish VAT for BTC are the ones which are not high right now
Because all governments currently tax own currency through inflation/money printing.  They might eventually want to do the same to bitcoin.  The only question is how and if it will succeed.
Putting tax on their own currency is quite easy but on a digital currency with non-government control? That's quite challenging
It is impossible to do with direct p2p Bitcoin trading of course. But government won't attempt that. Instead they will tax transaction of services - every exchange, service and shop will be taxed.
This is easily doable solution for fast bitcoin taxing. I would't be surprised to see something like that introduced in the future.