*Property Development Compay NV v Belgische Staat

European Union – Value added tax. The Court of Justice of the European Union gave a preliminary ruling, deciding that art 11A(1)(b) of Sixth Council Directive (EEC) 77/388 should be interpreted as meaning that, in a case such as that at issue in the main proceedings, the taxable amount for the calculation of VAT on an application, within the meaning of art 5(7)(b) thereof, of a building that the taxable person had constructed was to be the purchase price, at the time the application was made, of buildings whose location, size and other essential characteristics were similar to those of the building in question. In that regard, it was irrelevant whether part of the purchase price was represented by interim interest.

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