- Cryptocurrency exchange services (fiat to crypto or vice versa) are exempt from VAT as cryptocurrencies are considered means of payment.
- Outsourced payment services are also VAT-exempt if they involve the transfer of funds and change the legal and financial situation of the parties.
- The exemption applies only if the service provider acts on its own behalf and is responsible for the essential payment functions.
- Purely administrative services (such as processing transfers, payment verification, or generating statements) are not VAT-exempt.
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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