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V3358-15 2 November 2015 · SG de Impuestos sobre el Consumo Criterion in force
IVA · mediación

Financial mediation services provided by an independent third party are exempt from VAT

A banking agent has enquired whether their financial intermediation services, as well as those received from third parties, are exempt from VAT. The Directorate General for Taxes (DGT) has ruled that mediation is exempt provided the provider is a third party who brings the parties together without having a personal interest in the contract.

The question raised

Exemption from said operations.

The DGT's ruling

The exemption for mediation in financial operations requires that the provider be an independent third party performing matchmaking functions between the parties. The mere supply of information or the simple receipt of requests is not considered mediation. The exemption is possible in a chain of mediation, provided that each intermediary performs services characteristic of mediation and is not limited to material tasks.

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