CoinJar Relocates Headquarters to UK, Cancels 10% GST Tax on Bitcoin Purchases

Monday, 01/12/2014 | 10:27 GMT by Leon Pick
CoinJar Relocates Headquarters to UK, Cancels 10% GST Tax on Bitcoin Purchases

Australian Bitcoin buying service CoinJar has announced that, effective today, it will be relocating its headquarters to the UK.

The company cited two reasons for the move: (1) to catalyse CoinJar's growth and (2) to avoid charging the 10% Goods and Service Tax to its customers for bitcoin purchases.

Unlike in Australia, bitcoin purchases aren't subject to VAT in the UK. CoinJar started charging GST on bitcoin purchases in early October, much to the annoyance of users. The company did so in order to comply with recent Australian Taxation Office (ATO) guidelines, but also expressed concern of how such measures would complicate the bitcoin-buying process and said that it will try to work with the ATO for change.

The company is now incorporated as CoinJar UK Ltd., taking residence in London's financial district. They will continue to maintain a strong presence in Australia where the bulk of their clientèle are located, and they will continue local community activities such as meetups.

Australian Bitcoin buying service CoinJar has announced that, effective today, it will be relocating its headquarters to the UK.

The company cited two reasons for the move: (1) to catalyse CoinJar's growth and (2) to avoid charging the 10% Goods and Service Tax to its customers for bitcoin purchases.

Unlike in Australia, bitcoin purchases aren't subject to VAT in the UK. CoinJar started charging GST on bitcoin purchases in early October, much to the annoyance of users. The company did so in order to comply with recent Australian Taxation Office (ATO) guidelines, but also expressed concern of how such measures would complicate the bitcoin-buying process and said that it will try to work with the ATO for change.

The company is now incorporated as CoinJar UK Ltd., taking residence in London's financial district. They will continue to maintain a strong presence in Australia where the bulk of their clientèle are located, and they will continue local community activities such as meetups.

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About the Author: Leon Pick
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