VAT Clarifies Crypto Asset Taxation: New Rules for Transactions, Mining, and Record-Keeping

• VATP040 provides clear VAT rules for crypto asset transactions.
• Defines “virtual asset” and its role in taxable supplies.
• Crypto-to-fiat exchanges may be VAT exempt; crypto-for-goods/services is taxable.
• Details VAT treatment for mining, brokerage, and exchange services.
• Sets record-keeping requirements for wallet-based transactions.

Source: acme-group.me

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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