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A company intends to transfer a vessel to a subsidiary so that the latter may grant it to a partner for private use, with reimbursement of expenses. The DGT rules that if the assets are not used for business activities, they are not subject to VAT, nor is there a right to deduction.
Question posed: VAT treatment of the described operations.
The transfer of the vessel shall be subject to VAT only if the consulting entity holds the status of entrepreneur or professional and the asset is used for its business activity. If the subsidiary entity is incorporated solely to hold personal use assets of its partners without intervening in the market, it shall not be considered an entrepreneur or professional. In that case, the reimbursement of expenses by the partner does not constitute an operation subject to VAT and the subsidiary shall not be entitled to deduct tax amounts.
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