CELEX: 62011CN0044
Language: en
Date: 2011-01-31 00:00:00
Title: Case C-44/11: Reference for a preliminary ruling from the Bundesfinanzhof (Germany) lodged on 31 January 2011 — Finanzamt Frankfurt am Main V-Höchst v Deutsche Bank AG

14.5.2011   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 145/6
            
         Reference for a preliminary ruling from the Bundesfinanzhof (Germany) lodged on 31 January 2011 — Finanzamt Frankfurt am Main V-Höchst v Deutsche Bank AG
   (Case C-44/11)
   2011/C 145/06
   Language of the case: German
   
      Referring court
   
   Bundesfinanzhof
   
      Parties to the main proceedings
   
   
      Applicant: Finanzamt Frankfurt am Main V-Höchst
   
      Defendant: Deutsche Bank
   
      Questions referred
   
   
               1.
            
            
               Is the management of securities-based assets (portfolio management), where a taxable person determines for remuneration the purchase and sale of securities and implements that determination by buying and selling the securities, exempt from tax
               
                           —
                        
                        
                           only in so far as it consists in the management of investment funds for a number of investors collectively within the meaning of Article 135(g) of Directive 2006/112/EC of 28 November 2006 on the common system of value added tax (1) or also
                        
                     
                           —
                        
                        
                           in so far as it consists in individual portfolio management for individual investors within the meaning of Article 135(1)(f) of Directive 2006/112/EC (transactions in securities or the negotiation of such transactions)?
                        
                     
         
               2.
            
            
               For the purposes of defining principal and ancillary services, what significance is to be attached to the criterion that the ancillary service does not constitute for customers an aim in itself, but a means of better enjoying the principal service supplied, in the context of separate invoicing for the ancillary service and the fact that the ancillary service can be provided by third parties?
            
         
               3.
            
            
               Does Article 56(1)(e) of Directive 2006/112/EC cover only the services referred to in Article 135(1)(a) to (g) of Directive 2006/112/EC or also the management of securities-based assets (portfolio management), even if that transaction is not subject to the latter provision?
            
         
      (1)  OJ L 347, p. 1.