I just receved a phone call from the Icelandic tax, head of VAT department. He informed me that trading Auroracoin is exempt from VAT in Iceland.
This is in line with EU courts desition from october on Bitcoin being exempt from VAT in Europe.
Auroracoin is exempt from VAT (virðisaukaskattur)
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"Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone". Satoshi Nakamoto
- Dinobotta
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Great news to have this cleared up.
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BioMike - Dev team
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The tax authorities were going to give you some kind of written statement if I remember correctly. Any news of that?
I would have written a shorter letter, but I did not have the time. - Blaise Pascal
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Skarfurinn - Dev team
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Here is the letter
"Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone". Satoshi Nakamoto
- Dinobotta
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