Judgment_paragraph 30 · Szef Krajowej Administracji Skarbowej v O. Fundusz Inwestycyjny Zamknięty reprezentowany przez O S.A (C-250/21)

30In the second place, it is necessary to examine whether the services provided by the sub-participant fall within the concept of ‘granting of credit’ within the meaning of Article 135(1)(b) of the VAT Directive. In that regard, it must be recalled at the outset that the exemptions referred to in Article 135(1) of the VAT Directive constitute autonomous concepts of EU law which are intended to avoid divergences in the application of the VAT system of one Member State to another (judgment of 17 December 2020, Franck, C‑801/19, EU:C:2020:1049, paragraph 30 and the case-law cited).