kaal:claim:5454054-034

Non-transferable LER rewards designed for consumption can qualify as multi-purpose vouchers under the EU Voucher Directive, which defers VAT until redemption and postpones the tax liability.

Source quote, verbatim

LER rewards that are designed for consumption and non-transferable could align with the multi-purpose category, allowing VAT to be deferred until redemption and thus postponing any tax liability.

From

Wulf A. Kaal, Liquid Equity Rewards (2025), Tax, VAT, and Escheat Compliance, p. 27
https://ssrn.com/abstract=5454054 · source PDF

Cite as

Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054

Holds when

European Union VAT regime
rewards non-transferable and consumption-designed

Classification

conditionsupport: arguedinstitutional-design

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