- The CJEU ruled that Austria’s former VAT exemption for services between banking, insurance, and pension fund companies was illegal State aid.
- The court said the exemption gave those firms a selective economic advantage by reducing state revenue.
- It held that this distorted competition within the EU’s harmonized VAT system.
Source: cms.law
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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