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MEDIUM
FISCAL

Outsourced portfolio management services may be VAT liable if effectively used in Spain

V1007-25

Prepared and reviewed by the BMC editorial team  ·  Methodology

Technical details

Type
consulta-vinculante (what is this?)
Identifier
V1007-25
Published
12 Jun 2025

Summary

A Swiss resident asks whether discretionary portfolio management provided in Spain is subject to VAT. The DGT states that while the general rule for non-EU residents is exemption, the effective use and exploitation criterion in Spanish territory may apply.

In 6 key points

Lifecycle

2025-06-12PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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