The Curious ECJ Case of Eon Asset Management and Its Impact on Finance Leasing in the United Kingdom | White & Case LLP International Law Firm, Global Law Practice
The Curious ECJ Case of Eon Asset Management and Its Impact on Finance Leasing in the United Kingdom

The Curious ECJ Case of Eon Asset Management and Its Impact on Finance Leasing in the United Kingdom

Recently, the European Court of Justice (ECJ) delivered its judgment in Eon Aset Menidjmunt OOD v Direktor na Direktsia 'Obzhalvane i upravlenie na izpalnenieto' (C-118/11) which (save for capturing the attention of a few VAT practitioners) went largely unnoticed in the United Kingdom. This may have been due to many reasons – the value of the Bulgarian VAT at stake was modest at best, the primary issue on which the court's ruling was required related to the deductibility of VAT paid in respect of leases of cars to transport employees (which is an area of VAT littered with cases of a routine nature often of limited significance beyond the boundaries of the case in question); or perhaps it is the impenetrable English pronunciation of the Bulgarian tax authority that prevented many of us from daring to delve deeper into the case.

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