36In line with paragraph 29 of the present judgment, regarding the concept of ‘other securities’ referred to in Article 13(B)(d)(5) of the Sixth Directive, it must be held that transactions that are exempt from VAT under paragraph 3 of that provision also relate to the sphere of financial transactions (see, to that effect, Velvet & Steel Immobilien EU:C:2007:232, paragraph 22).
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.