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…
by Dr Florian S. Zawodsky and André Thoß, LL.M., EY National Office Tax Germany The use of crypto coins and tokens is on the rise. With the perception of constant and unrestrained gains in value reaching all-time highs, most national and subnational tax laws dramatically lag behind this astonishing bull run. Simple crypto coins are…
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…
The customary request at the end of a meal for the “Check Please” might work in a restaurant – if they ever open again – but, in the VAT world, simply asking for the “check” won’t achieve the compliance goal. First and foremost, the customer has to request an invoice, not a check, and that…
