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V1432-20 ·14 May 2020 ·consulta-vinculante Medium impact
Tax

Outsourced financial product trading services may be VAT exempt if the third party assumes responsibility for essential elements of the transaction

A securities firm has consulted whether outsourcing its financial product trading functions to a securities agent via an online platform is exempt from VAT. The DGT rules that for the exemption to apply, the services must constitute a distinct set that fulfills the essential functions of the financial transaction rather than being mere technical provisions, depending on whether the third party's responsibility extends to the specific elements of the activity.

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2020-05-14PublishedPublished 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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