Global VAT & Indirect Tax News

The European General Court issued a preliminary ruling (Case No. T‑657/24) on 9 February 2026 clarifying that credit intermediaries are exempt from VAT only when they canvass and source customers for mortgage‑loan agreements and assist with preparatory work before agreements are concluded. A Portuguese credit intermediary’s commission‑based mortgage‑loan intermediation was challenged, and the court held that unless these conditions are met, the services are taxable.

VATCalc explains how France’s 2026 reforms are tightening access to Article 143 import VAT relief, requiring non‑EU importers to hold a French VAT registration or an accredited fiscal representative. The EU exemption remains unchanged, but enforcement across the EU is becoming stricter, with the European Court of Auditors pointing out weaknesses in Procedure 42. Businesses must adapt supply chains or adopt technology to meet the new compliance thresholds.

The Norwegian Tax Administration’s Tax Appeals Board issued Decision No. SKNS1-2025-65 on Feb. 5, 2025, ruling that transferring mature energy‑related development projects to separate project companies (SPVs) via asset sales or demergers does not qualify for a VAT exemption because the projects are not standalone, ongoing economic units. The decision confirms the Tax Office’s view and clarifies the VAT treatment for such transfers.

The Belarusian Ministry of Taxes and Duties clarified on 6 February 2026 that fixed assets used by crypto-asset operators are treated as goods for VAT purposes, and that VAT paid on their importation cannot be deducted. The guidance also specifies that fixed assets directly used in token-related activities are subject to non-deductible VAT. This clarification applies to all crypto-asset operators operating within Belarus.

The European Parliament’s ECON committee has released a draft report urging the removal of the long‑standing VAT exemption for financial and insurance services under Directive 2006/112/EC. The report highlights the distortions caused by the exemption, the proliferation of over 90 sector‑specific taxes across the EU, and calls for a coordinated framework that taxes identifiable fees, clarifies emerging services, and harmonises cost‑sharing mechanisms.