In a report recently published by ANAF, the tax authority points out that according to national and EU legislation, activities related to cryptocurrencies are assimilated to banking currency trading activities (tax-exempt activity). Therefore, a company is not entitled to deduct VAT on invoices for the purchase of cryptocurrency mining equipment.
Furthermore, the tax authority points out that according to the case law of the Court of Justice of the European Union, taxable persons are entitled to deduct VAT on purchases if there is a direct and immediate link between the purchases and the taxable transactions they carry out. In the case of purchases of cryptocurrency mining equipment, there is no direct and immediate link with taxable transactions, as mining operations are not subject to VAT.