Directive

Article 135 [Exemption - financial services, postage stamps, betting, undeveloped property, letting of property]

Value Added Tax Consolidation Act 2010 Schedule 1 paragraph 6

Financial services

Schedule 1 paragraph 6 provides that financial services are exempt from VAT.

  • Exempt financial services include stockbroking, bank account operations, currency dealing, credit and loan guarantees, credit card services, and Islamic finance transactions, but not debt collection or factoring.
  • Fund management is also exempt, covering collective investment undertakings, investment limited partnerships, life funds, unit trusts, section 110 securitisation companies (excluding plant and machinery assets), and pension funds.
  • EU-registered funds subject to the UCITS Directive or the AIFM Directive qualify for Irish VAT exemption on the same basis as equivalent Irish funds.
  • Finance Act 2025 extended the exemption to the management of Ireland's new automatic enrolment retirement savings system established under the Automatic Enrolment Retirement Savings System Act 2024.

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