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V1718-25 ·23 September 2025 ·consulta-vinculante Low impact
Tax

Sale of tokens representing gold or silver considered goods supply subject to VAT

A company asks about VAT treatment in the commercialisation of tokens representing portions of physical gold or silver. The DGT determines that the transfer of these tokens constitutes supply of goods as they act as representative titles of the underlying metal.

In 6 key points

Lifecycle

2025-09-23PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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