As this Management Center has already reiterated, these services are intrinsically linked to the management company’s own activity. Therefore, it can be concluded that the following will subject to the VAT exemption for advisory services that the consulting entity may delegate to third parties (advisors) provided that, as indicated in Article 46 of Law 25/2005, such delegation does not turn the managing entity into a mere instrumental entity and the criteria set out in the GfBk ruling are met.
Source: audiconsultores-etlglobal.com
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