Bookit Ltd v HMRC : the decreasing scope of the VAT exemption for intermediation services
On 26 May 2016 the Court of Justice of the EU (CJEU) decided Bookit Ltd v HMRC (Bookit)1 which dealt with the interpretation of the exemption for transactions concerning payments within article 135(1)(d) of the Council Directive on the common system of value added tax (the VAT Directive).2 Article 135(1)(d) of the VAT Directive provides that Member States shall exempt "transactions, including nego