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Compliance That Makes Sense

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024 - FinTech and VAT

Mar 15, 2021

On this Compliance That Makes Sense episode, Yana is talking today about FinTech and Value Added Tax. Many Fintech companies in Europe and other places where there is an equivalent of the VAT ask her to confirm that Crypto and FinTech businesses are exempt. If you need a quick answer, it would be almost, but there is one big exemption. Often, a FinTech company has a hybrid model or company; the fees they charge are exempt, but some fees, payments, and revenue-generating activities could be subject to VAT. Listen as Yana shares how to know what is and what isn't exempt.

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Today's episode:

  • [00:34] Hello, my friends!
  • [02:13] It is normal for many FinTech companies to have hybrid models where they charge exempt fees.
  • [04:12] There are a lot of mixed hybrid events that might happen.
  • [05:19] It isn't uncommon to see regulatory requests for cryptocurrency-focused businesses to be split and have two legal entities.
  • [07:24] Yana offers some thoughts and ideas about how to go about thinking about these issues.
  • [10:18] You also need to think about both entities and which will have direct contact with the customers.
  • [11:25] There are no particular right or wrong answers to these questions.
  • [11:46] Thank you for listening!

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