Non-fungible tokens (NFTs) have attracted the interest of investors and the public in the last couple of years because of their skyrocketing price and the possibility of producing revenues for the artists. The increasing price of NFTs has made it apparently also interesting enough for governments to try to levy VAT on these digital assets.
In the following, we will analyse how the VAT legislation is being extended in Spain to NFTs and the legal feasibility of this purpose. But let’s first start with an overview of the functioning of NFTs.
Source Summitto
