Credit and charge cards provide an important ingredient of consumer credit. As such, there is a general inference that the transactions involved are exempt, thus implying restrictions in input VAT. This can be an oversimplification: some card company services are taxable, as, indeed, are some types of card operation.

Typically, a card operation will involve a number of different legal agreements between the company and, for example:

the cardholder for the use of the card (specifying the membership fees, interest and penalties, etc. and monthly settlement terms);

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