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V3280-19 ·28 November 2019 ·consulta-vinculante Medium impact
Tax

Total amount of supplies and services must be included in turnover when acting in one's own name

A boat refit company inquired whether its VAT turnover should include the total invoiced amount or only the intermediation margin. The DGT ruled that, when acting in one's own name, the total amount of the transactions must be accounted for.

In 6 key points

How it affects those involved

Companies acting as principals rather than agents must report their full turnover for VAT purposes, rather than just their commission or margin.

Lifecycle

2019-11-28PublishedPublished 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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