Exemption for financial services
In the German case of GfBk Gesellschaft für Börsenkommunikation mbH v Finanzamt Bayreuth (CJEU Case C-275/11) the CJEU held that art 13B(d)(6) of the EC Sixth Directive ‘must be interpreted as meaning that advisory services concerning investment in transferable securities provided by a third party to an investment management company which is the manager of a special investment fund fall within the concept of “management of special investment funds” for the purposes of the exemption laid down in that provision’.
Why it matters: The CJEU upheld the advocate general’s opinion that the relevant supplies were exempt from VAT.
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Exemption for financial services
In the German case of GfBk Gesellschaft für Börsenkommunikation mbH v Finanzamt Bayreuth (CJEU Case C-275/11) the CJEU held that art 13B(d)(6) of the EC Sixth Directive ‘must be interpreted as meaning that advisory services concerning investment in transferable securities provided by a third party to an investment management company which is the manager of a special investment fund fall within the concept of “management of special investment funds” for the purposes of the exemption laid down in that provision’.
Why it matters: The CJEU upheld the advocate general’s opinion that the relevant supplies were exempt from VAT.
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: