In the German case of GfBk Gesellschaft für Börsenkommunikation mbH v Finanzamt Bayreuth (CJEU Case C-275/11) Advocate General Cruz Villalón expressed the opinion that article 13B(d)(6) of the EC Sixth Directive ‘must be interpreted as meaning that an advisory and information service provided by a third party relating to the management of a special investment fund and the purchase and sale of assets constitutes an activity of “management” specific and distinct in nature provided that the service is found to be autonomous and continuous in respect of the activities actually performed by the recipient of the service a matter which it is for the national court to verify’.
Why it matters: Article 13B(d)(6) of the Sixth Directive provided that ‘management of special investment funds as defined by Member States’ qualified for exemption from VAT. Advocate General Cruz...
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In the German case of GfBk Gesellschaft für Börsenkommunikation mbH v Finanzamt Bayreuth (CJEU Case C-275/11) Advocate General Cruz Villalón expressed the opinion that article 13B(d)(6) of the EC Sixth Directive ‘must be interpreted as meaning that an advisory and information service provided by a third party relating to the management of a special investment fund and the purchase and sale of assets constitutes an activity of “management” specific and distinct in nature provided that the service is found to be autonomous and continuous in respect of the activities actually performed by the recipient of the service a matter which it is for the national court to verify’.
Why it matters: Article 13B(d)(6) of the Sixth Directive provided that ‘management of special investment funds as defined by Member States’ qualified for exemption from VAT. Advocate General Cruz...
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