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V3137-20 ·20 October 2020 ·consulta-vinculante Medium impact
Tax

Non-physical commodity swap contracts are exempt from VAT as financial services

A company has requested a ruling regarding the VAT liability and exemption of an energy and commodity swap contract settled by differences. The DGT has determined that, provided there is no physical delivery of the underlying asset, the transaction constitutes an exempt supply of financial services.

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2020-10-20PublishedPublished 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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