In Le Crédit Lyonnais, the CJEU held that a company cannot take into account the turnover of its foreign branches in calculating the proportion of input VAT deductible by its principal establishment. In University of Cambridge, the FTT held that the university should be entitled to recover a proportion of the input VAT incurred in respect of a non-economic investment activity which was carried on for the purpose of its wider economic activities. In TLLC, the FTT considered various issues in relation to whether a company could recover input VAT on professional costs incurred on the sale of subsidiary companies. The EU has released an updated compromise text on the proposal for a directive amending the VAT Directive as regards the VAT treatment of vouchers.
