- Swedish tax authority ruling clarifies VAT treatment of NFTs associated with digital work
- NFTs are unique records on blockchain representing ownership of specific assets
- NFTs can represent ownership of digital works or copyright of digital works
- NFT linked to digital work consists of ownership of digital work and the NFT itself
- Transfer of NFT and digital work considered a single transaction for VAT purposes
- Transfer of NFT with copyright may be considered as two separate transactions
- Swedish tax authority considers combination of digital work ownership and NFT as a new digital service
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.
