Financial Services

VAT recovery based on actual use permitted for bank

On March 27, 2020 the Court of Appeals Den Bosch rendered an interesting judgment about the recovery of VAT in a case concerning a financial institution. The Court ruled that the bank’s ‘actual use method’ had been sufficiently substantiated.

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Advocate General at the CJEU in BlackRock VAT case: a single fund management service is, in principle, not partly VAT-exempt

On March 11, 2020 Advocate General (‘AG’) Pikamäe at the Court of Justice of the European Union rendered his Opinion in the BlackRock Investment Management (UK) Limited case (C-231/19). The AG concluded that, in principle, a single service can only be subject to one VAT treatment and that the exemption for the management of special investment funds does not apply to the service purchased by BlackRock.

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FS Tax Newsletter | January 2020

Last year our first FS Tax Newsletter for 2019 discussed the CJEU judgment rendered in the Morgan Stanley case, concerning the right of a branch to recover input VAT if it (partially) provides support services to the head office in another EU Member State. We will be discussing in this newsletter a similar matter that has been presented to the CJEU for a preliminary ruling in the Bank of China case. We also discuss another case concerning the VAT position of fixed establishments. It seems that branches and VAT are still a hot topic in 2020. 

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FS Tax Newsletter | November 2019

In this edition we highlight the key aspects of the 2020 Tax Plan. We also focus on three important CJEU cases concerning the VAT payable on assignment of a debt recognized in enforcement proceedings, VAT and services related to the operation of ATMs and VAT on services provided by a head office to its fixed establishment. Finally, we would like to invite you to a seminar on the OECD BEPS 2.0 / Pillar Two consultation and to a roundtable for pension funds and asset managers (see points 5 and 6).

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Advocate General at CJEU in Dong Yang VAT case

On November 14, 2019 Advocate General Kokott rendered her Opinion in the Dong Yang Electronics case (C-547/18). 

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Processing of debit and credit card payments not exempt from VAT

On May 26, 2016 the Court of Justice of the European Union (CJEU) rendered judgment in two cases concerning the VAT treatment of card handling services. The CJEU ruled that the processing of debit and credit card payments, as dealt with in these cases, does not qualify for the VAT exemption for payment transactions.

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Judgment in Skandia America Corporation (C-7/13)

On September 17, 2014, the Court of Justice of the European Union (“CJEU”) rendered its judgment in the Skandia America Corporation case. The CJEU ruled that services provided by a head office to a fixed establishment that is part of a VAT group are subject to VAT. The VAT due must be paid by the VAT group as purchaser of the services. This judgment of the CJEU is not in line with Dutch practice. This may also be the case in other EU Member States.

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Services related to the operation of ATMs not exempt from VAT

On October 3, 2019 the Court of Justice of the European Union (‘CJEU’) rendered judgment in the Cardpoint GmbH case (case no. C-42/18) about the scope of the VAT exemption for transactions concerning payments and transfers. The CJEU ruled that services related to the operation of automated teller machines (ATMs), such as those in this case, do not qualify for the VAT exemption for transactions concerning payments and transfers.

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CJEU: VAT payable on assignment of a debt recognized in enforcement proceedings

On October 17, 2019, the Court of Justice of the European Union (‘CJEU’) rendered judgment in the Paulo Nascimento Consulting case (no. C-692/17) concerning the VAT treatment of the assignment of a debt that had been recognized in enforcement proceedings. The CJEU ruled that such an assignment was subject to VAT. 

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