Company Falsely Claims Cryptocurrency Mining Equipment in Taxes
Image by Shutterstock.com
According to an investigation by the tax authority, a company accounted for computers suitable for cryptocurrency mining as asset purchases, the National Tax and Customs Administration (NAV) reported, writes profitline.hu.
The tax authority explained that the equipment purchases of the water, gas, heating, and cooling installation company were observed during the inspection of the VAT returns, and during the on-site assessment, more than 170 servers were found.
It was already clear from the invoices that the purchased machines were not needed for the company's operation.
Cryptocurrency mining is not a VAT-exempt activity, so VAT cannot be deducted from this equipment.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.