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V0842-20 14 April 2020 · SG de Impuestos sobre el Consumo Criterion in force
IVA · mediación

Financial mediation at stands may be VAT exempt if active customer acquisition is performed rather than mere information provision

An entity queried whether its services for acquiring customers for financial products via stands in shopping centres were exempt from VAT. The DGT ruled that the exemption depends on whether the activity constitutes genuine mediation or is merely the provision of information or advertising.

The question raised

1. Whether the provision of services by the consulting entity, whether through stands or at Central Cash Desks, is subject to and exempt from the Tax.

The DGT's ruling

For mediation to be exempt, the provider must be an independent third party performing an active task of bringing the parties together, going beyond the mere provision of information or receipt of requests. The exemption applies if the mediator acts as an agent, advises and negotiates terms, or connects the client with the entity for formalization, providing added value through client analysis or filtering. The physical medium (stands) is irrelevant to the classification, but the activity must not be confused with advertising or mere preliminary information.

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