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V0794-18 21 March 2018 · SG de Impuestos sobre el Consumo Criterion in force
IVA · sujeto pasivo

Pension funds and UCITS must maintain electronic VAT registers if their settlement period is monthly

A query was raised regarding whether pension funds, collective investment schemes (UCITS), and their management companies must maintain VAT registers via electronic filing. The Directorate-General for Taxes (DGT) ruled that these entities are considered entrepreneurs or professionals and are taxable persons; therefore, they must comply with electronic record-keeping if their settlement period coincides with the calendar month or if they opt for such a method.

The question raised

Whether Pension Funds, financial collective investment institutions, and the management companies of Pension Funds are obliged to maintain the Value Added Tax registers through the Electronic Office of the State Tax Administration Agency, by means of the Electronic Information Supply system.

The DGT's ruling

Pension funds and collective investment institutions are taxable persons for VAT purposes when they carry out business or professional activities. The maintenance of the registers of issued and received invoices must be carried out through the AEAT Electronic Office if the settlement period coincides with the calendar month. The obligation to maintain the register of received invoices exists even if the activity is exempt and there is no right to deduction. The register of issued invoices will only be necessary if there is an obligation to issue an invoice for the operations performed.

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