The CJEU ruled that auctioning collateralised goods by a lender is not ancillary to the granting of credit, so the auctioning activities are not subject to the same VAT exemption. The court emphasized that the granting of credit can be done independently of the auctioning of goods and that auctioning collateral is not a usual result of granting a loan.
Source Taxlive
See also
- Join the Linkedin Group on ECJ VAT Cases, click HERE
- VATupdate.com – Your FREE source of information on ECJ VAT Cases
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