Jounal du Net — 19.03.2021.
In the context of the explosion of NFTs, in the art world as well as in the gaming world, Alexandre Lourimi was interviewed by Charlie Perreau for the Journal du Net in the context of an article in the form of a tutorial on how to create and sell non-fungible tokens (NFT).
Crypto : comment créer et vendre un NFT… comme cet article, JDN
Alexandre Lourimi returned to the tax aspects of these sales, recalling that these sales by professionals were in principle subject to VAT, the rate depending on the nature of the work, and underlining the grey areas affecting the taxation of individuals.
“We saved the least funny part for last: taxation. When you are a company or an artist, your turnover will be equal to the value (in euros, dollars…) of the ethers at the time of payment. If you decide to convert your ethers later, you will have to take into account the rate at the time of the transfer (and not when the payment was made). It is then up to you to take into account the amount in the corporate tax or the non commercial profits (BNC). Note that artists must apply VAT at 10% and not at 5.5% (for “classic” works of art). “They cannot benefit from the 5.5% rate specific to artists because a digital work does not fall within the definition of a work of art,” explains Alexandre Lourimi, a tax lawyer at Orwl.”
“If you are an individual, the issue is more complex. Because NFTs do not fall under the legal definition of digital assets. According to Alexandre Lourimi, an NFT should be considered as a movable asset and therefore the capital gains regime for movable assets should be applied (sales of less than €5,000 are exempt).”