Post
Topic
Board Bitcoin Discussion
Re: Crowdfunding legal costs for case at the EU Court of Justice about Bitcoin/VAT
by
franky1
on 22/08/2014, 12:06:59 UTC

So, the EU court will now decide exactly how to interpret the directive regarding Bitcoin.

bitcoin is "out of scope" of VAT


No it is not.
Nothing is "out of scope" of VAT. Some things are exempt from VAT if and only if they are on the list of "things that are exempt from VAT".

Bitcoin is not on that list, so by default, VAT applies at the standard rate.


kid you have no clue about VAT at all, next time try phoning a tax office, or at least googling definitions of things you wish to rebuttle.

http://www.hmrc.gov.uk/vat/forms-rates/rates/rates.htm#1
Quote

 If you're registered for VAT, you have to charge VAT at the standard rate on all goods and services you supply, unless they fall into one of these categories:

    zero-rated
    reduced-rated
    exempt from VAT
    outside the scope of VAT


http://www.hmrc.gov.uk/vat/forms-rates/rates/rates.htm#5

Quote
When VAT mustn't be charged

VAT is not charged (so it can't be reclaimed) on goods and services that are:

    exempt from VAT
    outside the scope of VAT

VAT must also not be charged by a business that isn't registered for VAT.

and as for your post about services. services are not automatically classed as VAT rateable, you are completely wrong about that. the actual classifications is when a service "adds value" to a good

EG
a bank handing you money is a service, but it does not add valueto money simply because a person hands you money at a bank teller desk, rather than an ATM or vice versa..

however if someone business had a raw food item, and then prepared it, cooked it and served it on a plate with a knife and fork, this would deem the food to have more value then it would have had in its raw state. thus prepared food services would be VAT rateable.

have a nice day googling your rebuttles before posting next time