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CJEU: warranty may be VAT-exempt insurance

On July 16, 2015, the Court of Justice of the European Union (CJEU) rendered its judgment in the French case Mapfre Asistencia and Mapfre Warranty SpA versus Directeur général des finances publiques. In this case, the CJEU broadly interprets the VAT exemption for insurance. The CJEU ruled that the provision of a warranty for a particular period at a predetermined fixed price must be regarded as an exempt insurance for VAT purposes. Under certain circumstances the warranty and sale of a product may be so interconnected that the sale of the product and the warranty must be regarded as a single VAT taxed transaction for VAT purposes.
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