No VAT exemption for credit checks by credit rating agencies
X BV provides interest-bearing loans to its sole shareholder, a Spanish company. X BV obtains the resources required for the loans by issuing bonds on the Luxembourg stock exchange and issuing “commercial papers”. In connection with attracting these “bonds”, X BV has used the services of two credit rating agencies, both located within the EU but not in the Netherlands.
It is not in dispute that the rating services provided to X BV are taxed in the Netherlands and that X BV, if the services are taxed, owes VAT. It is in dispute whether the services are exempt from VAT.
Source BTW jurisprudentie