- Legal Notice 231 of 2023 introduced a 12% reduced VAT rate on services related to the management of securities
- Guidelines were published on 12 March 2024 to provide guidance on applying the reduced VAT rate
- The reduced rate applies to securities portfolio management services provided on a discretionary or advisory basis
- The reduced rate does not apply to services related to capital structure, corporate strategy, mergers, or the purchase of undertakings
- Services that involve the receipt, execution, and transmission of orders to buy or sell securities are exempt from VAT
- The European Court of Justice ruled that services combining asset analysis and securities dealings are not exempt from VAT
Source: whpartners.eu
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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