Judgment of the Court of Justice in the case Fiscale Eenheid X NV. Article 13B(d)(6) of Sixth Council Directive 77/388/EEC must be interpreted as meaning that investment companies such as the companies at issue in the main proceedings, in which capital is pooled by several investors who bear the risk connected with the management of the assets assembled in those companies with a view to purchasing, owning, managing and selling immovable property in order to derive a profit therefrom which will be distributed to all unit-holders in the form of a dividend, those unit-holders benefiting also from an increase in the value of their holding, may be regarded as ‘special investment funds' within the meaning of that provision, provided that the Member State concerned has made those companies subject to specific State supervision. Article 13B(d)(6) of Sixth Directive 77/388 must be interpreted as meaning that the term ‘management' which appears in that provision does not cover the actual management of the immovable property of a special investment fund.



Informatiesoort: Nieuws

Rubriek: Europees belastingrecht, Omzetbelasting

H&I: Previews


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