VATupdate

NFT trade must be considered as a supply of services subject to VAT

NFTs Belgian tax treatment.
In a recent answer to a parliamentary question, Belgian Finance Minister, Vincent Van Peteghem, confirmed that the sale of NFTs will have the same legal consequences as the sale of any other asset.

Therefore, from a VAT point of view, the NFT trade must be considered as a supply of services subject to VAT (services provided by electronic means). Insofar as the NFTs are deemed to be sold in Belgium, the standard VAT rate of 21% applies.

Source Leila Baddour

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