Skip to content
Back to index
V3192-14 27 November 2014 · SG de Impuestos sobre el Consumo Criterion in force
IVA · operaciones financieras

Coupon payments on bonds are exempt from VAT

An individual has enquired whether the collection of a coupon from a bond purchased with accrued interest is subject to VAT. The DGT has ruled that the collection of the coupon constitutes an exempt financial transaction.

The question raised

Question raised: Subjectivity of the collection of the coupon to Value Added Tax.

The DGT's ruling

The issuance of a bond is a financial operation and, therefore, both the issuance and the repayment of the principal or the collection of the coupon are operations subject to and exempt from Tax. The exemption applies to the payment services of obligations inherent to the issuance of securities, which includes coupons.

Email
Contact