In Nordea Pankki Suomi Oyj v Finland (ECJ Case C-350/10) the ECJ held that the exemption from VAT under Article 13B(d)(3)(5) of the EC Sixth Directive did not include ‘electronic messaging services for financial institutions’.
Why it matters: Article 13B(d) of the EC Sixth VAT Directive provides that certain supplies relating to financial services are exempt from VAT.
The ECJ held that this exemption did not extend to supplies of electronic messaging services to financial institutions.
