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V0583-18 28 February 2018 · SG de Impuestos sobre el Consumo Criterion in force
IVA · mediación

Active mediation in the marketing of financial products is exempt from VAT

A financial institution sought clarification on whether the activities of its intermediaries in marketing credit cards and additional products were exempt from VAT. The DGT ruled that if the mediators' role extends beyond the mere provision of information to include customer acquisition or advisory services, the service is exempt.

The question raised

Whether said marketing activity is exempt from Value Added Tax.

The DGT's ruling

For mediation to be exempt, the provider must be an independent third party performing functions that go beyond the mere supply of information or the receipt of requests. The activity must include an active element such as client acquisition, analysis of their financial situation, advisory services, or facilitating contact for the formalization of the contract. In the specific case, by participating actively from telephone contact to in-person advisory services and the sending of forms, the work is considered exempt mediation.

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