Belgian Tax Body: Bitcoin Trades Not Subject to VAT

Belgium’s Federal Public Service Finance (FPS) has issued a new statement finding that certain domestic digital currency transactions are not subject to value-added tax (VAT).
The ruling from the tax body was revealed in an email to local digital exchange Belgacoin, which was concerned it would need to pay VAT on digital currency trades.
Speaking to CoinDesk, an FPS spokesperson confirmed that bitcoin trading transactions are currently exempt from the country’s VAT Code, as bitcoins are not a legal means of payment. However, the agency did suggest that this exemption may only be temporary.
FPS senior advisor and investigator Chantal Pahaut told CoinDesk:

This post was published at Coin Desk on September 22, 2014.