Sweden: Tax Agency Clarifies VAT Rules for NFTs with Digital Works
On March 28, the Swedish Tax Agency issued Statement No. 8-2837945, outlining VAT rules for non-fungible tokens (NFTs) linked to digital works. The clarification stipulates:
1) a 25 percent general tax rate for NFTs with linked digital works;
2) ownership of both the digital work and the NFT itself;
3) the Tax Agency’s consideration of NFT transfer as a single transaction for tax purposes;
4) treatment of NFT transactions as electronic services subject to VAT if occurring within Sweden; and
5) the inapplicability of the reduced tax rate for sales of NFTs, as it’s reserved for physical works of art.
Source: skatteverket.se
