VAT on crypto-assets

This topic is largely a great unknown to a critical majority of tax advisors and accountants. Put simply, cryptoassets, like any other asset, are generally subject to VAT regulation. In some situations, the relevant economic transaction with a crypto-asset is outside VAT, elsewhere it is exempt from VAT, but in several cases it is subject to VAT (e.g. NFTs, utility tokens, …) as well as related administrative obligations.

We try to guide our clients, also on a practical level, how to deal with VAT in order to eliminate the related tax risks, especially in connection with foreign activities of taxpayers. For accounting clients, we provide these services on a regular basis as part of the accounting service.