The Court of Justice of the European Union (CJEU) invalidated the interpretation given by the Romanian tax authorities in a series of taxation decisions issued regarding taxpayers on the insurance market, establishing that art. 56 paragraph 1 letter c) of Directive 2006/112/EC must be interpreted in the sense that the claims settlement services provided by correspondent companies in the name and on behalf of an insurance company are not part of the services provided by consultants, engineers, consulting offices, lawyers, accountants and other similar services, nor from data processing or information provision, and VAT is not due in Romania. The decision was obtained by D&B David si Baias and PwC Romania in collaboration with av.prof.dr Radu Bufan.
Source: PwC RO
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