General interpretation regarding the VAT rate for the storage of financial instruments
The Minister of Finance issued general interpretations on the application of the appropriate VAT rate for financial instrument storage services. In general, by article 10(2) of Regulation (EC) No 1250/2003, Whereas article 43(2) of Regulation (EC) No 1 Article 1(41) of the VAT Act shows that the storage services of financial instruments have been excluded from vat exemption. Those services are therefore subject to a basic 23% VAT rate. For VAT taxation, financial instrument retention services do not matter whether those services are in material form or in material form. Both EU and national law does not distinguish in this regard. The correctness of these positions is also confirmed by the judicial, national and EU interpretations.
According to the VAT rules safekeeping of financial instruments has been excluded from the VAT exemption. For VAT it does not matter whether these services occur in a material or in a dematerialized form. The Minister of Finance explains doubts in the general tax interpretation.
Source Polish authorities