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V1334-22 ·13 June 2022 ·consulta-vinculante Medium impact
Tax

Positive settlements in favour of customers under energy hedging contracts are not subject to VAT

An energy retailer has requested a ruling regarding the taxation of two types of contracts: a supply contract and a price hedging contract. The DGT has determined that settlements made in favour of customers do not constitute services; however, the hedging activity provided by the company is subject to VAT and includes exempt transactions.

In 6 key points

How it affects those involved

This ruling clarifies the VAT treatment of hedging settlements, distinguishing between the financial settlement itself (non-service) and the hedging service provided (subject to VAT), which affects the calculation of the deduction pro rata.

Lifecycle

2022-06-13PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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