BBanking
EuGH schafft Klarheit: Nicht jede Weiterleitung von Geldern Dritter ist ein Zahlungsdienst im Sinne der PSD2 ECJ Clarifies the Scope of PSD2: Not Every Transfer of Third-Party Funds Constitutes a Payment Service
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  • 3 minute read

ECJ Clarifies the Scope of PSD2: Not Every Transfer of Third-Party Funds Constitutes a Payment Service

The ECJ has further clarified the distinction between payment services and other business models. The judgment confirms that merely receiving and forwarding third-party funds does not automatically trigger licensing requirements under PSD2. The decision provides greater legal certainty for FinTechs, platform operators and other businesses handling payment flows, while emphasising that the specific business model remains decisive.
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TTax
Urteil des EuGH (C-436/24, Rs. Skatteverket) zum Begriff des Gutscheins im Umsatzsteuergesetz
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  • 4 minute read

ECJ judgment (C-436/24, Case Skatteverket) on the definition of a voucher under VAT law

The ECJ clarifies the VAT treatment of loyalty points – but broader questions regarding vouchers remain unresolved. Judgment C-436/24 confirms that instruments requiring an additional purchase before redemption do not qualify as VAT vouchers. However, significant uncertainties remain regarding the distinction between VAT law and civil law concepts of vouchers.
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TTax
VAT Treatment of Trading in Non-Fungible Tokens (NFTs) 2
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  • 3 minute read

VAT Treatment of Trading in Non-Fungible Tokens (NFTs)

So far, there is no supreme court ruling or official administrative guidance on the VAT treatment of NFTs. A recent case before the Lower Saxony Tax Court involves a domestic entrepreneur who traded NFT “collectibles” via the OpenSea platform in 2021. The digital works themselves were not sold; instead, blockchain-based database entries were transferred. The sales were executed automatically via smart contracts, which are not considered legal contracts.
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BBanking
EuGH zu Datenverarbeitungspraktiken von Wirtschaftsauskunfteien | von Annerton Anwältin Svetlana
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  • 10 minute read

ECJ on data processing practices of credit agencies

Financial service providers depend on creditworthiness assessments for products such as loans and BNPL, often relying on scores from agencies like SCHUFA. The ECJ rulings of 7 December 2023 (C-634/21; C-26/22; C-64/22) put both the business models of credit agencies and their customers’ products under pressure. This article outlines the decisions and highlights the data protection challenges for agencies when calculating scores and for customers when using them.
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