CELEX: 62018CA0316
Language: en
Date: 2019-07-03 00:00:00
Title: Case C-316/18: Judgment of the Court (Eighth Chamber) of 3 July 2019 (request for a preliminary ruling from the Court of Appeal (England & Wales) (Civil Division) — United Kingdom) — Commissioners for Her Majesty’s Revenue and Customs v The Chancellor, Masters and Scholars of the University of Cambridge (Reference for a preliminary ruling — Value added tax (VAT) — Deduction of input tax — Management costs of an endowment fund that makes investments with the aim of financing the whole of the taxable person’s output transactions — Overheads)

9.9.2019   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 305/21
            
         
      Judgment of the Court (Eighth Chamber) of 3 July 2019 (request for a preliminary ruling from the Court of Appeal (England & Wales) (Civil Division) — United Kingdom) — Commissioners for Her Majesty’s Revenue and Customs v The Chancellor, Masters and Scholars of the University of Cambridge
      (Case C-316/18) (1)
      
      (Reference for a preliminary ruling - Value added tax (VAT) - Deduction of input tax - Management costs of an endowment fund that makes investments with the aim of financing the whole of the taxable person’s output transactions - Overheads)
      (2019/C 305/26)
      Language of the case: English
      
         Referring court
      
      Court of Appeal (England & Wales) (Civil Division)
      
         Parties to the main proceedings
      
      
         Appellant: Commissioners for Her Majesty’s Revenue and Customs
      
         Respondent: The Chancellor, Masters and Scholars of the University of Cambridge
      
         Operative part of the judgment
      
      Article 168(a) of Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax must be interpreted as meaning that a taxable person that (i) is carrying out both taxable and exempt activities, (ii) invests the donations and endowments that it receives by placing them in a fund and (iii) uses the income generated by that fund to cover the costs of all of those activities is not entitled to deduct, as an overhead, input value added tax paid in respect of the costs associated with that investment.
      
         (1)  OJ C 249, 16.7.2018.