Norway Bitcoin VAT Exempt

Norway’s Tax office has reversed its decision on taxing bitcoin sales by making it VAT exempt. The move brings it into line with the EU which made the trading of digital currencies exempt from Value Added Tax last year following a European Court of Justice ruling.

In 2013 Norway had made crypto-currency trading subject to VAT as a tradable asset or commodity. Several EU countries have followed in their path initially, but since reclassified digital currencies as private money, “”VAT free”” as a financial service.