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V0849-20 14 April 2020 · SG de Impuestos sobre el Consumo Criterion in force
IVA · mediación

Financial product mediation may be VAT exempt if active activity requirements are met

A real estate agent has enquired whether their mediation activity for obtaining mortgage loans is exempt from VAT. The DGT indicates that the exemption depends on the work being genuine mediation rather than a mere supply of information or advertising.

The question raised

1. Whether the mediation activity carried out by the applicant is exempt from Value Added Tax.

The DGT's ruling

For mediation in financial operations to be exempt, the provider must be an independent third party performing functions that go beyond informing or receiving requests. The activity must involve bringing the parties together, performing client analysis or screening, or advising on products based on the financial situation. The mere provision of information, advertising, or the management of formalities without the capacity to influence the legal relationship does not qualify as exempt mediation.

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