In its October 2022 decision in O. Fundusz Inwestycyjny Zamknięty reprezentowany przez O S.A. (Case C-250/21), the Court of Justice of the European Union (CJEU) confirmed that a sub-participation falls within the exemption from VAT for granting credit. The decision will be a relief for banks and other lending institutions, after Advocate General Medina’s opinion in this case earlier this year, which suggested that a sub-participation might not be exempt from VAT.
Source: weil.com
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