- The video game industry is currently worth more than music and video streaming combined, valued at $130 billion in 2018 and expected to reach $300 billion by 2025.
- The rise of mobile games and easy access to them through platforms like Google Play or the App Store has shifted the gaming industry from traditional retail to digital distribution and app downloads.
- New supply and transaction chains are making it difficult for legislation to keep up and cover all possible scenarios.
- Given the size of the gaming industry and its revenue, it’s important to explore how these new revenue streams are accounted for from a VAT and fiscalization perspective.
- The article explores the niches of the gaming industry and digital platforms, how they account for VAT, and whether typical retail rules apply to them.
- Topics covered in the article include the legal framework and fiscalization implications, VAT on electronically supplied services in the EU, and exemptions for digital platforms.
Source: fiscal-requirements.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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