The questioner is a Danish branch of a company in another EU country that provides financial services. The branch contributes to this by providing internal services to the head office. The questioner also provides services in connection with the safekeeping and management of securities directly to the head office’s Danish customers. The questioner invoices and collects remuneration from the external customers for the delivery of the custody services.
Neither the head office nor the branch are included in a joint VAT registration.
The Tax Council could confirm that, under the circumstances in question, according to current practice, the Questioner has full right to deduct VAT for purchases according to ML § 37, subsection 1.
Source: skat.dk
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