Leasing or financial leasing It is a contract through which the lease of an asset occurs and, in addition, a purchase option is established at the end of the stipulated lease period.
This figure is very useful for entrepreneurs or self-employed people who want to start producing, but who do not want to make a large capital outlay. This instrument allows them to rent that property and, later, when the stipulated period ends, the lessee can exercise the purchase option, if desired.
Therefore, given this figure and for VAT purposes, Are we dealing with a delivery of goods or a provision of services?
The TEAC resolution
The TEAC has issued a resolution (available by clicking here) in which it establishes that “the classification of the disputed contract as a delivery of goods or provision of services will depend on whether the lessee exercises or formally undertakes to exercise the purchase option. In accordance with the provisions of articles 8.Dos.5º and 11.Dos.2º, the operations derived from a financial lease, in which there is no commitment, on the part of the lessee, to exercise the purchase option, must be classified as benefits. of services; They are only qualified as a delivery of goods from the moment the lessee agrees to exercise the purchase option.”
The TEAC also underlines the same idea expressed by the Supreme Court, which in its judgment of November 15, 2004 (Appeal No. 6595/1999) established that "transactions arising from a financial lease, in which there is no commitment on the part of the lessee to exercise the purchase option at the end of the lease, must be classified as "provision of services", with successive accrual of VAT as the lease payments fall due; and if such a commitment is formalized, early VAT accrual occurs for all outstanding lease payments, as well as for the amount of the residual value, since "delivery" is deemed to have occurred by the mere fact of formalizing such commitment."
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