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V3118-20 ·19 October 2020 ·consulta-vinculante Medium impact
Tax

Vehicle sales allow full VAT deduction even when involving exempt financial intermediation

A vehicle sales and repair company has enquired whether it can deduct VAT on vehicles purchased for resale, given that it also performs exempt financial intermediation. The DGT has ruled that vehicle sales and financial intermediation are distinct sectors and that the acquisition of vehicles pertains to the sales sector, thereby allowing for full VAT deduction.

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2020-10-19PublishedPublished 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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