Tax challenges in the digital era: NFTS and their implications for VAT, IGIC, and IPSI

Abstract

Introduction: This work delves into the intersection of taxation and the digital frontier, with a particular focus on NFTs under tax regimes such as VAT, IGIC and IPSI, offering a joint view of the taxation of NFTs in the Spanish tax system in relation to indirect taxation. Methodology: A bibliographic review is carried out based on academic sources, articles and other documents that provide knowledge, as well as a regulatory analysis focused on VAT, IGIC and IPSI legislation, with Binding Consultations issued by the General Directorate of Taxes being essential. Results: The tax regulations of the analog world are integrated into the virtual one, where the creation of NFTs fits into the tax figures of VAT, IGIC and IPSI. Discussion: Blockchain technology poses obstacles in terms of obtaining information about the acquirer of NFTs, which makes it difficult to apply the rules for locating the taxable event, making it essential to determine the recipient of these. Conclusions: The disparity of criteria in the location of the taxable event in VAT, IGIC and IPSI is evident, so it is up to us to formulate a de lege ferenda proposal that harmonizes this situation.