The questioner is a bank whose purpose is to conduct banking activities of all kinds.
The inquirer has entered into a distribution agreement with a mortgage credit institution, according to which the inquirer must mediate the sale of the mortgage credit institution’s mortgage loan. In addition, the Asker must carry out consultancy and certain detailed administrative tasks.
When the Asker has brokered a mortgage loan to the mortgage credit institution, the Asker must also provide security to the mortgage credit institution in the form of a guarantee for the mortgage loan in question.
The Tax Council found, on the basis of Spørger’s information and the basis of the agreement presented, that Spørger provides intermediary services in connection with the taking up and conversion of mortgage loans. These services must be considered VAT-exempt according to Section 13, subsection 1 of the VAT Act. 1 no. 11, letter a).
The Tax Council also found that Spøger’s advisory services and administrative services, which are delivered in direct connection with the customers’ taking out and conversion of specific loans as well as services in connection with debt assumption, must be considered ancillary services to Spøger’s mediation services, as these services are not considered to be goals in themselves for the customer in connection with taking out or converting a loan.
The Tax Council, on the other hand, did not find that Spørger’s services in connection with ongoing due diligence, ongoing credit quality assessment and relaxations can be considered ancillary services to Spørger’s VAT-exempt mediation services. These services cannot therefore be exempt from VAT according to section 13, subsection of the VAT Act. 1 no. 11, letter a).
The Tax Council confirmed that the Questioner’s guarantee for mortgage loans, which the Questioner has brokered, is covered by the VAT exemption for security and guarantee in Section 13, subsection 1 of the VAT Act. 1, no. 11, letter b).
Source: skat.dk
