Source: All England Reporter
Publisher Citation: [2003] All ER (D) 347 (Jun)
Court: Court of Justice of the European Communities (Sixth Chamber)
Judge:

Puissochet (President of the Chamber), Schintgen (Rapporteur), Gulmann, Macken and Cunha Rodrigues
Judgment Dates: 26 June 2003

Catchwords

European Communities - Tax - Value added taxation - Factoring - Scope of Directive - Council Directive (EEC) 77/388, arts 2, 4, 13, 17.

The Case

On the true construction of the Council Directive (EEC) 77-388, a true factoring business was carrying out an economic activity such that it was a taxable person and enjoyed the right to deduct tax. Further, an economic activity by which a business purchased debts, assuming the risk of the debtors' default, in return for commission was debt collection and factoring within the meaning of art13B and was excluded from the exemption.

Practice Areas

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