A financial institution (Spørger) offers its business customers access to a transaction account for receiving and making local and international payments. The institution plans to charge these customers an establishment fee for access to the transaction account, as well as a quarterly fee. The Tax Council confirms that these fees are exempt from VAT according to the VAT Act § 13, stk. 1, nr. 11, litra c, as the fees are charged for customers’ access to current accounts. The questions asked were whether the establishment fee for new customers’ access to a transaction account is exempt from VAT and whether the quarterly fee for existing customers’ continued access to a transaction account is exempt from VAT. The answer to both questions was yes.
Source: info.skat.dk
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