VAT and insurance: The European Union
Publikation: Bidrag til bog/antologi/rapport › Bidrag til bog/antologi › Forskning › fagfællebedømt
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VAT and insurance : The European Union. / Papis-Almansa, Marta.
VAT and Financial Services: Comparative Law and Economic Perspectives. Springer Singapore, 2017. s. 337-364.Publikation: Bidrag til bog/antologi/rapport › Bidrag til bog/antologi › Forskning › fagfællebedømt
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TY - CHAP
T1 - VAT and insurance
T2 - The European Union
AU - Papis-Almansa, Marta
N1 - Publisher Copyright: © Springer Nature Singapore Pte Ltd. 2017. All rights reserved.
PY - 2017/3/6
Y1 - 2017/3/6
N2 - In European VAT, insurance is exempt from the tax. Determination of the scope of exemption for 'insurance and reinsurance transactions, including related services performed by insurance brokers and insurance agents' is far for being clear in the light of the wording, purpose and context of Article 135(1)(a) of the VAT Directive. The Court of Justice has clarified the concepts enacted in that provision to a large extent in its case law. Nevertheless, the approach of the Court, which has to balance the principle of neutrality on one hand, and the principle of strict interpretation of exemptions on the other, still leaves many interpretative doubts. The definition of insurance as formulated by the Court of Justice focuses on the nature of the service and raises questions as to the scope of its application to services which, although not constituting conventional insurance, share the functions and characteristics of such insurance. The case law of the Court of Justice as to the outsourcing of services by insurers and transfers of portfolios of (re)insurance has had a severe impact on how insurers can structure and restructure their businesses. In this chapter, after a brief presentation of the background for the current state of law, the case law of the Court of Justice as to the scope of the exemption for insurance in European VAT is analysed and critically assessed.
AB - In European VAT, insurance is exempt from the tax. Determination of the scope of exemption for 'insurance and reinsurance transactions, including related services performed by insurance brokers and insurance agents' is far for being clear in the light of the wording, purpose and context of Article 135(1)(a) of the VAT Directive. The Court of Justice has clarified the concepts enacted in that provision to a large extent in its case law. Nevertheless, the approach of the Court, which has to balance the principle of neutrality on one hand, and the principle of strict interpretation of exemptions on the other, still leaves many interpretative doubts. The definition of insurance as formulated by the Court of Justice focuses on the nature of the service and raises questions as to the scope of its application to services which, although not constituting conventional insurance, share the functions and characteristics of such insurance. The case law of the Court of Justice as to the outsourcing of services by insurers and transfers of portfolios of (re)insurance has had a severe impact on how insurers can structure and restructure their businesses. In this chapter, after a brief presentation of the background for the current state of law, the case law of the Court of Justice as to the scope of the exemption for insurance in European VAT is analysed and critically assessed.
UR - http://www.scopus.com/inward/record.url?scp=85032631964&partnerID=8YFLogxK
U2 - 10.1007/978-981-10-3465-7_18
DO - 10.1007/978-981-10-3465-7_18
M3 - Book chapter
AN - SCOPUS:85032631964
SN - 9789811034633
SP - 337
EP - 364
BT - VAT and Financial Services
PB - Springer Singapore
ER -
ID: 321965964