Company Falsely Claims Cryptocurrency Mining Equipment in Taxes

Fintech

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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.

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