On 10 March 2022, the Spanish Tax Administration issued a ruling concerning the VAT treatment of the transfer, through an online internet auction, of NFTs (Non-Fungible Tokens) that grant their purchasers certain rights of use (hereinafter: ‘the Ruling’).[1] The Spanish Tax Administration provides through this ruling a comprehensive analysis of the taxation for VAT of…

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…

When India’s Finance Minister rose before the Lok Sabha (House of Commons) on 1st Feb, 2022 to present her budget for India’s fiscal year 2022-23 (April 1, 2022 to March 31, 2023), she compressed the 284 page budget document into a crisp 90-minute speech, a part of which highlighted how India’s proposed budgetary tax measures…

“Bitcoin is now considered an investable asset” – reads the first sentence of the interview with Mathew McDermott, Global Head of Digital Assets at Goldman Sachs in the newly-issued report by the bank. With the recent buzz in the news about cryptocurrencies such as Bitcoin, Ethereum and Cardano we wanted to discuss how Malta has…

Luisa Scarcella (DigiTax Centre at University of Antwerp; Member of the Working Party on Tax & Legal Matters) The recent rise in the price of Bitcoin and other cryptocurrencies and crypto-assets accompanied by the rapid growth of crypto-assets providers has caught the attention of the EU regulator once again. Due to the heterogeneity in the…