DGT Ruling: Insurance Portfolio Transfer Subject to VAT Due to Lack of Economic Unit

The DGT addresses the application of VAT on the transfer of an insurance portfolio along with office materials and furniture.
The insurance agent is retiring and transferring their insurance portfolio, office materials, and furniture to a purchasing company.
The agent has no employees or premises related to the activity.
The question is whether the described operation is subject to VAT.
The DGT concludes there is no autonomous economic unit being transferred.
According to the VAT Law, transfers that do not constitute an autonomous economic unit are subject to VAT.
The sale of the insurance portfolio is not exempt from VAT.
The DGT references a court ruling stating that the sale of an insurance portfolio does not constitute an insurance operation.
Therefore, the transfer of the portfolio is subject to VAT and not exempt.

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.