Translation of "points deduction " (English → French) :

The Court points out, first, that any limitation of the right to deduct VAT affects the level of the tax burden and must be applied in a similar manner in all the Member States.

14. holdings in other credit and financial institutions of up to 10 % of their capital, the subordinated claims and the instruments referred to in Article 35 and Article 36(3) which a credit institution holds in respect of credit and financial institutions other than those referred to in points 12 and 13 of this subparagraph in respect of the amount of the total of such holdings, subordinated claims and instruments which exceed 10 % of that credit institution's own funds calculated before the deduction of items in points 12 to 16 of t ...[+++]his subparagraph.

holdings in other credit and financial institutions of up to 10 % of their capital, the subordinated claims and the instruments referred to in Article 35 and Article 36(3) which a credit institution holds in respect of credit and financial institutions other than those referred to in points 12 and 13 of this subparagraph in respect of the amount of the total of such holdings, subordinated claims and instruments which exceed 10 % of that credit institution's own funds calculated before the deduction of items in points 12 to 16 of this ...[+++]subparagraph.

(13) holdings in other credit and financial institutions of up to 10 % of their capital, the subordinated claims and the instruments referred to in Article 35 which a credit institution holds in respect of credit and financial institutions other than those referred to in point (12) in respect of the amount of the total of such holdings, subordinated claims and instruments which exceed 10 % of that credit institution's own funds calculated before the deduction of items in point (12) and in this point.

He recommended that the Court reply as follows: (1) The assignment of rights to exhibit motion pictures by a film-production undertaking does not come within the scope of the transitional exemption provided for in Article 28(3)(b) of the Sixth Council Directive 77/388/EEC of 17 May 1977 on the harmonisation of the laws of the Member States relating to turnover taxes · Common system of value added tax: uniform basis of assessment, read in conjunction with point 2 of Annex F to that Directive; (2) It follows, in particular, from Articles 2(1), 6(1) and 17 of the Sixth Council Directive that a person who makes taxable supplies of exclusi ...[+++]ve rights to exhibit motion pictures may rely upon those provisions against a national tax authority which refuses to permit it to make a VAT declaration in which that person seeks to deduct the VAT component of the goods and services used for the purposes of producing the films in question from the VAT which should have been included in the price charged on the assignment of those rights; (3) The failure of a taxable person to add the value of the output tax at the time of calculating the price of the assignment of exclusive rights to exhibit motion pictures cannot affect the right of that taxable person, who has made the assignments in question, to deduct from the VAT which he ought to have paid in respect of those assignments the VAT component of the goods and services supplied to him for the purposes of making the motion pictures that were the subject-matter of the assignments.

If those payments are received by a Canadian resident, they are taxable in Canada at normal Canadian tax rates in recognition of the fact that they were at one point deductible in Canada to produce the capital required to generate the pension.