VATLP05720 - Exemption: European concept of 'leasing or letting of immovable property': what is a leasing or letting of immovable property?
The meaning of 바카라 사이트˜leasing or letting of immovable property바카라 사이트™ (Article 135 (1) (l) of the Principal VAT Directive) has been firmly established in numerous ECJ judgements.
Essentially, a 바카라 사이트˜leasing or letting of immovable property바카라 사이트™ is 바카라 사이트˜normally a relatively passive activity, not generating any significant added value바카라 사이트™ (Goed Wonen C-326/99). The ECJ has also described it as the 바카라 사이트˜passive provision of space바카라 사이트™ (Sinclair Collis C-275/01).
To be classified as a 바카라 사이트˜leasing or letting of immovable property바카라 사이트™, a transaction must have all of the following characteristics:
| 1 | It must relate to a defined area (VATLP05750) of immovable property (VATLP05740) |
|---|---|
| 2 | It must confer a right to occupy that property, which gives the tenant or licensee the right to exclude others and to occupy as owner (VATLP05760) |
| 3 | The right of occupation must be for an agreed duration (VATLP05770) |
| 4 | That right must be given for a payment for the period (VATLP05780) |