TTax
Erlass der Finanzverwaltung zur umsatzsteuerlichen Behandlung des An- und Verkaufs von Mehrzweck-Gutscheinen in Vertriebsketten Decree of the tax authorities on the VAT treatment of the purchase and sale of multi-purpose vouchers in distribution chains
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  • 5 minute read

Decree of the tax authorities on the VAT treatment of the purchase and sale of multi-purpose vouchers in distribution chains

A new tax authority decree provides clarity on the VAT treatment of multi-purpose vouchers in distribution chains – with significant practical implications. Businesses must reassess margin taxation and contractual structures. This article outlines the key developments, critical aspects and required actions.
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TTax
VAT Treatment of Trading in Non-Fungible Tokens (NFTs) 1
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  • 3 minute read

VAT Treatment of Trading in Non-Fungible Tokens (NFTs)

So far, there is no supreme court ruling or official administrative guidance on the VAT treatment of NFTs. A recent case before the Lower Saxony Tax Court involves a domestic entrepreneur who traded NFT “collectibles” via the OpenSea platform in 2021. The digital works themselves were not sold; instead, blockchain-based database entries were transferred. The sales were executed automatically via smart contracts, which are not considered legal contracts.
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