Case C-8/03

Banque Bruxelles Lambert SA (BBL)

v

État belge

(Reference for a preliminary ruling from the Tribunal de première instance de Bruxelles)

(Sixth VAT Directive – Articles 4 and 9(2)(e) – Concept of taxable person – Place where services are supplied – SICAV)

Summary of the Judgment

1. Tax provisions – Harmonisation of laws – Turnover taxes – Common system of value added tax – Economic activity within the meaning of Article 4 of the Sixth Directive – Collective investment in transferable securities of capital raised from the public – Included

(Council Directive 77/388, Art. 4(2))

2. Tax provisions – Harmonisation of laws – Turnover taxes – Common system of value added tax – Taxable persons – Definition – Open-ended investment companies (SICAVs) which have as their sole object the collective investment in transferable securities of capital raised from the public – Included – Place where services are provided to such bodies established in a Member State other than that of the supplier of the services – Place where the bodies have established their business

(Council Directive 77/388, Arts 4 and 9(2)(e))

1. The activity consisting in the collective investment in transferable securities of capital raised from the public, for a fee, which goes beyond the compass of the simple acquisition and the mere sale of securities and which aims to produce income on a continuing basis, constitutes an economic activity within the meaning of Article 4(2) of Sixth Directive 77/388 on the harmonisation of the laws of the Member States relating to turnover taxes.

(see paras 42-43)

2. Open-ended investment companies (SICAVs) which have as their sole object the collective investment in transferable securities of capital raised from the public in accordance with Directive 85/611 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) are taxable persons within the meaning of Article 4 of Sixth Directive 77/388 on the harmonisation of the laws of the Member States relating to turnover taxes so that, where services referred to in Article 9(2)(e) of that directive are supplied to such SICAVs which are established in a Member State other than that of the supplier of the services, the place where those services are provided is the place where the SICAVs have established their business.

(see para. 48, operative part)

JUDGMENT OF THE COURT (First Chamber) 21 October 2004 (1)

(Sixth VAT Directive – Articles 4 and 9(2)(e) – Concept of taxable person – Place where services are supplied – SICAV)

In Case C-8/03,REFERENCE for a preliminary ruling under Article 234 ECfrom the Tribunal de première instance de Bruxelles (Belgium), made by decision of 24 December 2002, received at the Court on 10 January 2003, in the proceedings:

v

THE COURT (First Chamber),,

composed of: P. Jann, President of the Chamber, A. Rosas, R. Silva de Lapuerta, K. Lenaerts and S. von Bahr (Rapporteur), Judges,

Advocate General: M. Poiares Maduro,

having regard to the written procedure and further to the hearing on 11 March 2004,after considering the observations submitted on behalf of:

after hearing the Opinion of the Advocate General at the sitting on 18 May 2004,

gives the following

‘1.

2.‘1.

2.…

‘“Taxable person” shall mean any person who, habitually and independently, in the course of carrying out an economic activity, whether it be on a primary or ancillary basis, and whether or not it be with a view to profit, supplies goods or services covered by this Code, irrespective of the place where that economic activity is carried on.’

‘The place where a service is supplied shall be deemed to be the place where the supplier has established his business or has a fixed establishment from which services are supplied or, in the absence of such a place of business or fixed establishment, the place where he has his permanent address or usually resides.’

‘7.

…

On those grounds, the Court (First Chamber) hereby rules:

Signatures.