Greg Sinfield and Lee Squires identify the recent VAT developments that matter, including the decisions of the ECJ in GFKL Financial Services (assignment of debts at a discount) and Sauer-Danfoss (reclaiming overpaid VAT).
Assignment of debts at discount: GFKL Financial ServicesOn 27 October 2011 the ECJ ruled in GFKL Financial Services (Case C-93/10) that a person who purchases debts at a discount on a non-recourse basis does not make a supply of services and does not carry out an economic activity for VAT purposes when the difference between the face value of the debts and the price paid...
