Mark Agnew and Philippe Gamito (Baker McKenzie) examine the AG's opinion on the application of the VAT exemption to outsourced services.
Once again the following question is being asked: what is a transaction in payments? The concept of payment should be straightforward to grasp if one refers to the Oxford English Dictionary: it is the act of paying somebody or something or being paid generally accomplished by one person (or various) on behalf of another from a bank account to another bank account. So far so good.
Unfortunately in the VAT world the use of a well known dictionary is not decisive. Instead one has to examine what is meant by a payment transaction as laid down in article 135(1)(d) of the Principal VAT Directive (PVD) through the lens of the CJEU’s judgments (e.g. ...
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Mark Agnew and Philippe Gamito (Baker McKenzie) examine the AG's opinion on the application of the VAT exemption to outsourced services.
Once again the following question is being asked: what is a transaction in payments? The concept of payment should be straightforward to grasp if one refers to the Oxford English Dictionary: it is the act of paying somebody or something or being paid generally accomplished by one person (or various) on behalf of another from a bank account to another bank account. So far so good.
Unfortunately in the VAT world the use of a well known dictionary is not decisive. Instead one has to examine what is meant by a payment transaction as laid down in article 135(1)(d) of the Principal VAT Directive (PVD) through the lens of the CJEU’s judgments (e.g. ...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
