Exemptions for insurance and financial transactions
The following transactions are exempt:
The insurance, reinsurance and capitalisation operations.
Likewise, mediation services, including customer acquisition, for the conclusion of the contract between the parties involved in the aforementioned transactions, regardless of the status of the businessperson or professional providing them.
Insurance operations shall include provident schemes.
The financial transactions, such as cash deposits, credits and loans in cash, guarantees, transfers, drafts, cheques, money orders, promissory notes, bills of exchange, payment or credit cards and other payment orders;transactions in foreign currencies, banknotes and coins which are legal means of payment;supplies of collector coins where they are made by the issuer for an amount not exceeding their face value;transactions in shares, company shares, bonds and other securities.
Also exempt is the management and deposit of collective investment institutions, venture capital funds, pension funds, mortgage market regulation funds, asset securitisation funds and collective retirement funds, set up in accordance with their specific legislation.
Services for the collection of receivables, bills of exchange, bills of exchange, receipts and other documents are not exempt.Services provided to the transferor under factoring contracts are also not included in the exemption, with the exception of advances of funds which, in any event, may be provided under such contracts.