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VAT

Charges on bitcoin trade are VAT exempt

Simonetta La Grutta Simonetta La Grutta

On 2 September 2016, by resolution n. 72, the Italian Revenue Office defined the applicable tax treatment to fees paid to a company which carries out digital currency or “bitcoin” purchase and sales operations on behalf of its clients. For the purposes of indirect tax, the operation has the same nature of a provision of financial services, i.e. it is VAT exempt pursuant to Presidential Decree 633/72 art. 10, para. 1, no. 3.

 

Thanks to Eutekne for the kind concession of the article