EU court ruling: VAT impact on securitisation credit servicing fees

A recent judgment by the EU General Court in Case T-184/25 has provided important clarification regarding the VAT treatment of servicing fees in securitisation transactions, with direct implications for arrangements under which the original lender continues to provide administrative credit management services in relation to the transferred debts. This decision may significantly affect originators, servicers, issuers and investors in notes, with potential consequences for transaction structuring and ongoing operations across the EU.

We invite you to join our webinar from 9 to 10am (BST) on Monday, 29 June. Our tax experts will discuss the key aspects of the judgment, outline its implications for market participants, and offer practical guidance on the next steps.