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Exemption for insurance-related services to remain pending European Commission review
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Insurance - Back Office Services

Exemption for insurance-related services to remain pending European Commission review

Following on from its deliberations and consultations on the impact of the ECJ judgment in the Andersen case, Revenue has confirmed that pending a proposed review by the European Commission of the financial services provisions in the Sixth EU VAT Directive, the current VAT practice, within the provisions of existing Irish VAT legislation, continues to apply to insurance-related services provided by insurance brokers and insurance agents — i.e. exemption from VAT will apply

Ernst & Young commentary

Brian Keenan, Senior Manager, Indirect Tax Services comments that while the position taken by Revenue was to be expected following the comments of the European Commission and an earlier statement to similar effect by the UK authorities, the written clarification of its position is welcome. It is evident that the Commission recognises the very real difficulties posed for the insurance industry by the Andersen judgment and it is hoped that the review being undertaken will bring relief in this regard.

Indirect Tax
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