- The VAT Tax and Duty Manual on the VAT Treatment of Portfolio Management Services has been updated
- The guidance sets out the VAT treatment of portfolio management services in line with the Deutsche Bank case
- Portfolio management services consist of analyzing and monitoring assets of client investors, and purchasing and selling securities
- The fee for portfolio management services is chargeable to VAT at the standard rate
- The purchase and sale of stocks, shares, debentures, and other securities is VAT exempt
- Exemption can apply to portfolio management service fees charged on a transaction by transaction basis if certain criteria are met
- Portfolio management services provided in respect of a qualifying investment fund are VAT exempt
- The place of supply of financial services to consumers is Ireland if the services are used and enjoyed in the country
Source: revenue.ie
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.
