- The sale of a digital product like a token backed by gold or silver is considered a delivery of goods subject to the special investment gold regime.
- The entity is creating a digital product (token) backed by gold or silver, with each token equivalent to ounces or grams of a specific 400 oz ingot.
- The value of the token will vary based on the underlying metal’s price.
- The delivery of the token is considered a delivery of goods for VAT purposes, as it represents ownership of the underlying gold or silver.
- The delivery of the token is subject to and exempt from VAT if the entity is a business and the transactions are made in the VAT territory.
- The sale of gold through the token will be subject but exempt from VAT if it meets the conditions for investment gold as per article 140 of the Law 37/1992.
Source: audiconsultores-etlglobal.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.
