---
title: Intermediation in Share Transactions – Exempt from VAT
description: This week, new policy from the State Secretary regarding (intermediation) services in the purchase or sale of shares was published. This decision clarifies when services in share transactions qualify as VAT-exempt intermediation. The exemption appears to be interpreted more broadly by the State Secretary than previously thought.
image: https://taxperience.nl/hubfs/TAX%2025044%20Nieuwsflits%20Aandelentransacties%20P2-3.jpg
---
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# Intermediation in Share Transactions – Exempt from VAT
By [**Taxperience**](https://taxperience.nl/en/news/author/taxperience) on October 2025
This week, new policy from the State Secretary regarding (intermediation) services in the purchase or sale of shares was published. This decision clarifies when services in share transactions qualify as VAT-exempt intermediation. The exemption appears to be interpreted more broadly by the State Secretary than previously thought.
According to the decision, intermediation is considered VAT-exempt if a service provider, based on the agreement, performs activities covering the four characteristic phases of a share transaction:
1. Orientation & introduction
2. Preparation
3. Negotiation
4. Contract closure
A result-dependent fee, such as a “no-cure-no-pay” arrangement, **can** indicate that the service qualifies as VAT-exempt intermediation. The condition that a mediator must not have a personal interest in the content of the agreement to be concluded remains unchanged.
In the purchase or sale of shares in a company or participation, there is often debate with the tax authorities about the deductibility of VAT on acquisition or sale costs. Such discussions can be avoided if no VAT applies to these costs due to VAT-exempt intermediation. Therefore, the classification of a service as intermediation can have a significant impact!
Curious about what this means for your business? Our VAT experts are happy to discuss it with you!
Taxperience has taken care in compiling the information provided in this article. However, Taxperience will not be liable for any direct or indirect damage caused by the use of, reliance on, or actions taken in response to the information provided in this article.
Topics: [News](https://taxperience.nl/en/news/tag/news) [VAT](https://taxperience.nl/en/news/tag/vat) [Shares](https://taxperience.nl/en/news/tag/shares)
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