In this resolution, the Spanish Central Tax Court, applying the criteria stated by the ECJ judgments such as C-60/90 Polysar, C-80/95, Harnas & Helm and C-155/94 Welcome Trust, considered that the income obtained from dividends, fixed-income securities or from the transfer of security titles should not be considered as compensation for VAT purposes subject to VAT, when the entity that holds those titles does not intervene in the management of those titles.
The particular case is a pension fund. This type of entity without legal personality does not perform any business activity for VAT purposes and just holds the ownership of different financial assets in order to obtain the income generated by them (dividends, interests, etc.). However, there is another autonomous entity in charge of the management of the investments made by the participants in the pension fund.
Source Baker & McKenzie
Latest Posts in "Spain"
- Spanish Government Clarifies Regulations on Computerized Invoicing Systems and Pre-Invoicing Document Compliance
- VAT IT eezi webinar – European E-Invoicing Spotlight: Greece, Poland, Croatia & Spain (Nov 27)
- New Revision 1.20 of AES Export Declaration Guide Published for Enhanced Customs Communication
- Briefing document & Podcast: E-Invoicing in Spain
- EU Regulation 2025/1728 Amends Origin Proof Procedures, Extends PEM Convention Rules Retroactively
