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Tax & Financial Standards New Judgments of the ECJ For April 2020

30.04.2020

Tax & Financial Standards New Judgments of the ECJ For April 2020

С-20/19 of 02 April 2020

Freedom to provide services — Direct life assurance — Right of cancellation and cancellation period — Incorrect information about the conditions for exercising the right of cancellation — Extinction of the right of cancellation — Relevance of the quality of consumer of the policy holder

Key aspects of the decision in the economic range:

A national provision under which, even if the policy holder is not a consumer, the term for exercising the right of cancellation from a life assurance contract begins from the date of conclusion of that contract. Information about the conditions for exercising the right of cancellation provided by the assurance company to the policy holder. A policy holder, who is not a consumer.

Proceedings concerning the scope of the right of cancellation under life assurance contracts.

С-228/18 of 02 April 2020

Competition - Payment cards system - Interbank agreement setting the amount of the exchange fee - Agreement on restriction of competition ‘by object’ or ‘by effect’ – Concept of restriction of competition ‘by effect’

Key aspects of the decision in the economic range:

Competition Authority. Agreements, decisions and concerted practices. Restriction of competition ‘by object’ or ‘by effect’. Interbank agreement establishing a single amount of the exchange fee payable on card transactions to the issuing banks of such cards offered by card companies operating in the respective national market. An agreement which has "designed" the prevention, restriction or distortion of competition within the meaning of this provision.

Concept of restriction of competition ‘by effect’.

Dispute between the Competition Authority and financial institutions over a decision of the Competition Authority establishing that there is an anti-competitive agreement on exchange rates.

С-458/18 of 02 April 2020

Common system of taxation applicable in the case of parent companies and subsidiaries of different Member States - Dividends and liquidation proceeds distributed to a foreign legal person which is resident for tax purposes in a Member State of the European Union - Companies registered in Gibraltar and subject to corporation tax there - Concepts of companies incorporated under United Kingdom law and United Kingdom corporation tax

Key aspects of the decision in the economic range:

Freedom of establishment. Prevention of double taxation. Whether the taxation of profits distributed by a Bulgarian subsidiary of its parent company established in Gibraltar constitutes a restriction in respect of the right of establishment or the free movement of capital. Status of companies registered in Gibraltar and taxes paid in Gibraltar.

Concepts of companies incorporated under United Kingdom law and United Kingdom corporation tax.

Dispute between G, established in Bulgaria and the Direktor na Direktsia "Obzhalvane i danachno-osiguritelna praktika" concerning a notice of tax adjustment establishing tax debts on the dividends distributed and paid by G to its parent company, P, established in Gibraltar.

С-480/18 of 02 April 2020

Payment services in the internal market — Payment services provided in a currency other than the euro or the currency of a Member State outside the euro area — Payment services provided by a credit institution — Non-execution or defective execution of a payment order — Prudential supervision procedure — Complaint procedures — Out-of-court-redress — Competent authorities

Key aspects of the decision in the economic range:

Disputes between a payer and a payment services provider, arising from the non-execution or defective execution of a payment transaction. Complaint procedures and out-of-court-redress procedures. Non-execution or defective execution of a payment order. An authority, which has the power to examine complaints and impose penalties in the case of payment services provided in the currency of a third State. Prudential supervision. An arbitration ruling settling a dispute between a user and provider of payment services.

Proceedings made by a credit institution, concerning the legality of a decision by the Financial and Capital Markets Commission to impose on it a fine for failure to execute a payment order.

С-500/18 of 02 April 2020

Freedom to provide services - Markets in financial instruments - Conditions for relying on the status of consumer - Determining jurisdiction to hear the request - Meanings of ‘retail client’ and ‘consumer’

Key aspects of the decision in the economic range:

Investor protection. Natural person who concluded with a financial company, carries out financial transactions through that company. A situation in which the consumer carried out a high volume of transactions within a relatively short period or invested significant sums in those transactions. Consumer’s action against a seller or supplier. Jurisdiction, recognition and enforcement of judgments. Meanings of ‘retail client’ and ‘consumer’.

Proceedings between A, on the one hand, and R and R, on the other, concerning limit orders speculating on a fall in the price of petrol, placed by A on an online platform owned by the defendants in the main proceedings, following which A lost a certain sum of money.

 

March

 

С-66/19 of 26 March 2020

Consumer protection - Credit agreements for consumers - Right of withdrawal - Time limit for the exercise of that right - Requirements concerning the information to be included in a credit agreement - Information notice merely referring to a series of national provisions

Key aspects of the decision in the economic range:

Credit agreements covering the granting of credit secured by real estate. Information that should be specified in a clear and concise manner, in a credit agreement. Mandatory information that must be provided in order for the period of withdrawal to start to run. Credit agreement which refers to a national provision which itself refers to other provisions of the law of the Member State concerned.

Proceedings concerning an exercise of the right of withdrawal from a credit agreement concluded with a credit institution.

С-182/19 of 26 March 2020

Common Customs Tariff — Combined Nomenclature — Tariff classification — Heading 3005 and heading 3824 — Self-heating patches and belts to relieve pain — Implementing Regulation (EU) 2016/1140 — Invalidity - Concept of ‘medical purposes’

Key aspects of the decision in the economic range:

Harmonised Commodity Description and Coding System, drawn up by the Customs Cooperation Council. Classification of certain goods in the Combined Nomenclature. Medical devices falling under the scope of Council Directive 93/42/EEC.

Concept of ‘medical purposes’.

Proceedings concerning the tariff classification of self-heating patches and belts to relieve pain.

С-344/18 of 26 March 2020

Transfers of undertakings — Safeguarding of employees’ rights — Award of market lots to two new contractors — Re‑engagement of a worker assigned to all the market lots

Key aspects of the decision in the economic range:

Safeguarding of employees’ rights in the event of transfers of undertakings, businesses or parts of undertakings or businesses. Effects of the transfer of undertaking to two new contractors on the safeguarding of employees’ rights and obligations.

Proceedings concerning a dismissal and the consequences of that dismissal.

С-779/18 of 26 March 2020

Consumer protection — Credit agreements for consumers — Unfair terms in consumer contracts — An upper limit for non-interest credit costs — Contract terms, which are reflecting imperative legislative or regulatory provisions — Concept of total cost of the credit for the consumer

Key aspects of the decision in the economic range:

Legal framework governing consumer credit agreements. Type of information to be contained in any credit agreement. National legislation, which provides a method of calculating the maximum of non-interest credit costs. A contractual clause that sets out the non-interest credit costs while respecting the maximum amount laid down in a national provision, without necessarily taking into account the actual cost of the loan

Concept of total cost of the credit for the consumer.

Proceedings concerning claims for payment of sums due under two separate consumer credit agreements

 

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