The application of advances in innovation and communication technology (ICT), which underpin the Fourth Industrial Revolution, and the advent of new players like tech and e-commerce companies are reshaping the financial and insurance sectors, contributing to redefine existing boundaries in both industries. Although both these phenomena offer a wealth of fresh opportunities for businesses and consumers alike, VAT liabilities for taxable persons operating in the financial and insurance sectors may constitute a hindrance to the ongoing change. In this article, the author examines the main areas in which such a change is most visible and seeks to assess the potential VAT issues that may materialize in each of these domains.