Depositary services and global custody services
This section outlines the Value-Added Tax (VAT) treatment of depositary services and global custody services. The services provided are in respect of an Irish special investment fund.
The service of an oversight role undertaken by a depositary is subject to the standard rate of VAT.
A global custody service, which includes taxable elements, such as;
- physical safe-keeping
- and
- oversight
can constitute a composite supply of VAT exempt financial services in cases where the taxable elements are incidental.
Further guidance contains more detailed information on the VAT treatment of depositary services and global custody services.