||All England Reporter
|| All ER (D) 347 (Jun)
||Court of Justice of the European Communities (Sixth Chamber)
Puissochet (President of the Chamber), Schintgen (Rapporteur), Gulmann, Macken and Cunha Rodrigues
||26 June 2003
European Communities - Tax - Value added taxation - Factoring - Scope of Directive - Council Directive (EEC) 77/388, arts 2, 4, 13, 17.
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.
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