.png)
.png)
Skatteverket v David Hedqvist (Case C-264/14), ECJ, 22 October 2015
A Swedish national H planned to set up a business consisting of the exchange of traditional currency for the bitcoin virtual currency and vice versa. Before starting his venture he asked for a preliminary decision from the Swedish Revenue Law Commission on whether VAT must be paid on the purchase and sale of bitcoin virtual currency units. The commission decided the transactions would be exempt from VAT.
The Swedish tax authority appealed and the Swedish Supreme Administrative Court referred the matter to the Court of Justice of the EU.
The ECJ held that such exchange transactions would constitute the supply of services for consideration. There would be a direct link between the service provided by H and the consideration received by him: the margin created by the difference between the price at which he bought currencies and the price at which he sold them to his clients.
...
