Crypto-assets, Cryptocurrency, VAT, Virtual activities, Virtual world

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About a year ago, a Regional Fiscal Court in Cologne (Germany) ruled virtual renting of virtual land to be a VATable transaction.[1] In the case, a German taxpayer generated revenue by renting out virtual land. The taxpayer – or rather his avatar – received virtual currency in exchange for the virtual land. The taxpayer then…

Germany, VAT, Virtual world

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Back in 2000, computer gaming was revolutionized. Instead of sports games, ego shooters or other genres, people caught an interest in ‘virtual living’.  Games offered an extensive life simulation. To an – at that time – unprecedented degree, people could live their lives virtually. Disregarding the why behind what drives players, it is undeniable that…