- Cryptocurrency exchange services (fiat to crypto or crypto to fiat) are VAT-exempt because cryptocurrencies are treated as means of payment.
- Externalized payment services can also be VAT-exempt if they involve transferring funds and changing the legal and financial position of the parties.
- For exemption, the provider must act in its own name and be responsible for the essential and specific functions of the payment service.
- Services limited to administrative tasks such as ordering transfers, verifying payments, sending settlement files, or generating statements are not exempt.
- The key distinction is whether the service performs the actual payment function or only supports it administratively.
Source: allyon-etl.es
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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