Norway Tax Agency Posts Board Ruling on VAT Registration, Taxation of Digital Currency Mining

The taxpayer used three servers for mining digital currency in Norway, and participated in mining pools. The Tax Authority didn’t consider the turnover from the extraction of digital currency to be subject to VAT, and applied the exception for financial services. The Tax Authority also removed the taxpayer from the VAT register, because the taxpayer’s yearly turnover didn’t exceed 50,000 Norwegian kroner (US$4,658).

Source: news.bloombergtax.com

---

---