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Published: August 29, 2019

Canada: GST Exemption on Virtual Currency

The Department of Finance recently announced that virtual payment instruments will be included in the definition of a financial instrument in Canadian law.

The Department of Finance recently announced that virtual payment instruments will be included in the definition of a financial instrument in Canadian law. Since financial instruments are exempt from GST, it follows that virtual payment instruments will be exempt from GST. It is necessary for those dealing in virtual currencies to take note of the impact of these changes on their businesses.

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