Denmark Tax Agency Clarifies VAT Exemption for Insurance Brokerage Services

The Danish Customs and Tax Administration Nov. 16 posted online Tax Council Binding Answer No. SKM2023.550.SR, clarifying the exemption from VAT for insurance brokerage services. The taxpayer entered into cooperation agreements with its customer to provide insurance brokerage services, including tenders, insurance analysis, and the administration of large claims. The taxpayer sought clarification on whether VAT applied to the remuneration received for tender services, analysis, administration, and claims processing under the cooperation agreement. The Tax Council confirmed that: 1) remuneration for tender services is VAT-exempt under the applicable law on VAT; 2) services involving insurance analysis and ongoing monitoring of ...