Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status

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Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation to free crypto-fiat transactions from VAT, a decision that affirms Bitcoin’s status as a currency. The same has already happened in many other jurisdictions, despite the absence of comprehensive regulations. Also read: Money Laundering Scandals Bring Court Charges and Record Job Cuts to Euro Banks VAT-Free Crypto Exchange, No Income…
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Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status

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