On 16 February 2023, the CJ delivered its judgment in the case ASA (C-519/21). ASA and PP owned a plot of land in Romania. ASA and PP entered into an association agreement with BP and BM with the aim of developing residential properties on the plot of land. ASA, PP, BP and BM are natural persons. The association agreement stipulated that 33.33% and 66.67% respectively of the sales proceeds would be attributed to ASA / PP and BP / BM. All construction costs would be paid by BP and BM.
Source Loyens Loeff
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