The scope of application of the VAT exemption related to the services supplied to their members by independent groups of persons (“IGPs”) has been strictly limited by recent decisions of the Court of Justice of the European Union, seriously affecting European banks.
This case law will lead to a significant increase of the cost of supplies of services between companies active in the financial and insurance sector, since VAT will be applicable on such services and the above mentioned taxable persons usually only benefit from limited input VAT deduction rights. It is essential to secure the continued applicability of the IGP regime on the financial and insurance sectors. Therefore the EBF has sent a letter to the Commission to urge them to submit draft legislation to amend the VAT Directive to that effect.
A lot has changed for Europe's retail banks in the 10 years since our first Retail Banking Radar was released. The newest edition released today looks at how banks can forge a path forward through the inevitable change to come. https://t.co/ox3B2UMn4l
Our director of Mortgages, Jackie Bennett, recently chatted with @AccordMortgages about the UK housing market, the issues, solutions, and what's in store. Listen to the podcast here: https://t.co/738lpdAGpx
"The SSM provides the best possible framework for the supervision of the modern banking system, enabling us to swiftly shrink the set of unknown unknowns and so help protect us from new or emerging risks." #BankingSupervision #BankingUnion
“International Directors Banking Programme” is a new modular programme of three three-day modules at the INSEAD business school in Fontainebleau, France. The content is driven by the needs for bank directors and senior executives working in banks to review and update their corporate governance practices due to the many pressures they face, and will focus on the effectiveness of directors and boards. Successful completion by participants offers certification by INSEAD. Read more
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European Banking Federation
The EBF is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
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