Supreme Administrative Court Decision: Currency Exchange Not Subject to VAT, Margin Exempt from Tax.

Summaries and comments on decisions of the Supreme Administrative Court issued on January 8, 2025: The court held (case file I FSK 1049/21) that the exchange of one currency for another does not meet the definition of a “thing” under VAT regulations and, consequently, is not subject to VAT. The margin, which constitutes the taxable amount, is also exempt from VAT, but it must be shown in item no. 10 of the VAT-7 return.

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.

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