ECJ says Credit Lyonnais’ head branch cannot use global branch turnover in VAT deduction

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ECJ says Credit Lyonnais’ head branch cannot use global branch turnover in VAT deduction

Joe Dalton
September 11 2013
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French bank Le Crédit Lyonnais lost its appeal in the European Court of Justice (ECJ) today, meaning it may not take into account turnover of its global branches when determining the proportion of VAT it can deduct in France.

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