Confirmation of the end of the VAT exemption regime for financial IGPs
Following the Luxembourg case C-274/15, the series of cases relating to the scope of the cost-sharing VAT exemption also referred to as “Independent Group of Persons” (“IGP”) continues with the release today of three judgements by the Court of Justice of the EU (“CJUE”): Aviva (C-605/15), DNB Banka (C-326/15) and European Commission v Federal Republic of Germany (C-616/15).
These judgements radically change the IGP regime as used in Luxembourg so that they remove the main point of interest for the financial and insurance sector. Considering this, the question of the implementation of the VAT group system as set out under article 11 of the EU VAT Directive becomes a necessary alternative for Luxembourg and has to be further considered.
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