• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan

CoinJar Relocates to United Kingdom, Partly in Protest of ATO Guidance

newsbtc by newsbtc
8 years ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

CoinJar, Australia’s well-known digital currency services company, announced on Monday that they’ve relocated their company headquarters to London’s financial district in a move that hopes to expand the company’s operations beyond the land down under.

In the announcement — made on the company’s blog — CoinJar says they’re official incorporated as a company from the United Kingdom (under the name CoinJar UK Limited), but they aren’t forgetting about their client base back in Australia.

CoinJar is maintaining a presence in Melbourne, “and will continue focusing on the things that have defined us such as facilitating meetup groups, sharing knowledge and highlighting our amazing customers.”

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Failed Australian policy

If you’re wondering why CoinJar has decided to move their home base to the United Kingdom, you have to understand a major issue they’ve encountered thanks to recent Australian policy.

Specifically, a recent guidance from the Australian Tax Office (ATO) mandated that a so-called goods and services tax (GST) would be applicable on digital currency transactions.

For CoinJar customers, that meant a 10 percent tax would be applicable on the buying and selling of bitcoin using the service (in compliance with the aforementioned guidance), which certainly wasn’t ideal.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

And while the GST on bitcoin transactions wasn’t necessarily the fault of CoinJar, it’s not difficult to see that customers would take their business elsewhere.

No more GST on CoinJar transactions

The move to the United Kingdom now means that CoinJar customers are not subject to the 10 percent GST, which is good news all around, it seems. The company writes:

[blockquote style=”2″]Aside from catalysing CoinJar’s growth, the UK relocation will mean CoinJar customers will no longer be subject to 10 per cent GST (Goods and Services Tax) when they buy bitcoin using our services. HMRC (Her Majesty’s Revenue and Customs) in the UK exempts digital currency trading from value added tax (VAT), so new and existing CoinJar customers will not be levied any additional taxes. The move coincides with a revamp of our online wallet service, which is open to international users.[/blockquote]

Do you think the move will make the Australian Tax Office reconsider their stance on GST on bitcoin transactions? Further, do you think more companies will follow suit?

Tags: atoaustraliacoinjargstNewsOnline
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

A16z rejects Uniswap BSC

Venture Capital Firm Votes Against Uniswap Deploying On BNB Smart Chain

3 hours ago
Polygon Price May Surpass $1.50 in February: Here's Why

Polygon Price May Surpass $1.50 In February – Here’s Why

21 hours ago
Cardano

Cardano (ADA) Up By Over 65% In 2023 – Here’s Why

22 hours ago
Bitcoin Network

Craig Wright Wants His $2.5 Billion, Demanding For a Bitcoin Hard Fork

2 days ago
Dogecoin DOGE

63% Of Dogecoin Holders Are Making Money

2 days ago
Reddit MOON Arbitrum Nova

Reddit Deprecates The MOON Bridge To Arbitrum Nova, Users To Lose 4.77 Million Tokens

2 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Investors in Cardano (ADA) And Solana (SOL) Are More Interested In Flasko (FLSK) Presale

February 6, 2023

QIE Wallet & Web 3 Banking – The Entry Point to QI Ecosystem

February 6, 2023

Why Orbeon Protocol (ORBN) Is the Next Big Opportunity for Bitcoin (BTC) and Ethereum (ETH) Investors

February 6, 2023

The Best Online Brokers Recommend Snowfall Protocol (SNW), EOS (EOS), and Ethereum (ETH)

February 6, 2023

Ripple (XRP) and Cardano (ADA) Stall While Snowfall Protocol (SNW) Dominates The Crypto Market

February 6, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.