Greece Tax Agency Issues Circular Clarifying VAT Exempt Services Related to Over the Counter Derivatives

The Greek Independent Authority for Public Revenue Nov. 23 issued Circular No. E.2068, clarifying the VAT treatment of contracts for difference (CFDs), with respect to the applicability of VAT exemptions for income from services related to over the counter (OTC) derivatives. The circular clarifies that: 1) Circular E. 2066/2023 doesn’t exclude the application to OTC derivatives of the VAT exemptions provided by other provision of the VAT Code; 2) income from services related to transactions and operations on OTC derivatives, in cases where at least one of the contracting parties or participants is a credit institution or a qualifying investment ...