ARTICLE · 22 FEBRUARY 1995
Vat Exemption
FranceAntitrust/Competition Law
Article 261 B of the French General Tax Code applies to services provided by associations of individuals or legal entities whose business is not subject to VAT to the members (including financial institutions) of the association. These services can be exempted from VAT if they are related only to the business, not subject to VAT, of the association members and if the price required corresponds precisely to their share in the common expenses...
The Nantes Administrative Court of Appeal decided on 4 May 1994 that a company, held at 97. 40 % by a bank and providing this bank and its branches with computer services, could not benefit from the VAT exemption, notwithstanding that they may constitute an association, insofar as, the business of the company, computer services, is subject to VAT.
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