Sweden Tax Court Issues Advance Notice Clarifying VAT Treatment for Services Provided After VAT Deregistration

The Swedish Tax Court Dec. 21 issued Advance Notice No. 66-23/I, clarifying that the provision of management and credit brokerage services is not considered a single composite transaction eligible for a VAT exemption for financial services. The services provided by a deregistered VAT group were separated into two agreements for administrative reasons. The taxpayers sought clarification as to whether the services specified in the two contracts would be considered a single composite transaction for VAT purposes. The tax agency argued that the various parts of the agreements were so interconnected that they were part of a single complex transaction, which ...