- French tax authority published guidance on VAT treatment of non-fungible tokens (NFTs)
- NFTs are not subject to specific VAT regulations, usual principles apply
- VAT rules must be applied on a case-by-case basis for NFT transactions
- Guidance provided on VAT treatment for creation and sale of digital collectible cards, digital graphic works, and financing of video games through NFTs
- NFT transactions may be subject to VAT depending on specific circumstances
- Similar guidance on VAT treatment of NFTs issued by other European tax authorities
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
