Taxation

Refund of input VAT in danger for holding companies?

By Steve McCrindle, Haines Watts

For many years, holding companies (HoldCo) enjoyed a degree of certainty in relation to their ability to recover VAT incurred as input tax, but there is a challenge to this position from certain EU tax authorities which is creating ambiguity. This is a current issue in the UK.

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Taxation

Negative consequences of using the wrong VAT ID

By Carina Langegger and Manfred Leitinger, Prodinger & Partner

The ECJ decision issued on 22 April 2010 (Case C-539/08) regarding intra-community acquisitions between and Facet BV/Facet Trading BV showed that small formal invoicing mistakes can have significant implications for tax. The consequence of a purchaser using a VAT ID differing from the VAT ID of the country where the supply ends is that the purchaser becomes liable for VAT in both countries (where the supply ends and in the country of the VAT ID which was used). However, the right of VAT deduction would only be granted in the country where the delivery ends.

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Taxation

Belgium: new and simplified rules for VAT “self-billing”

By Filip Camps, Acco

As from January 1, 2013, a new Belgian law entered into force[1] that changed the Belgian VAT-code. In particular, it regulates the new measures regarding the invoicing rules and changing the applicable rules in relation to self-billing. The VAT authorities consequently issued an official announcement in 2013 on the subject to the simplified self-billing rules in which the amended measures were explained.[2]

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Taxation

Austria: VAT on real estate

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By Carina Langegger & Manfred Leitinger, Prodinger & Partner

Following the amendments made to the Austrian VAT Act in 2012, changes occurred for the worse with regards to VAT on rentals and to the input VAT adjustment period, in cases of change of property use.

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Taxation

German VAT groups: detailed specification of organisational integration

By Olga Selmer, Nörenberg • Schröder

On 7 March 2013, the German Ministry of Finance issued guidance notes in which it specified organisational integration as one of the requirements for the existence of a VAT group, in addition to financial and economic integration. The new definitions are being embraced by professional circles as, prior to these changes, the question as to whether organisational integration should be a requirement in establishing a VAT group was the one that most divided opinion.

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Taxation

The VAT cash accounting system in Romania

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By Raluca Tutu, Mirus Consultantá Fiscalá SRL

Persons subject to the VAT cash accounting system. These are taxable persons whose place of business is located in Romania, who are registered for VAT purposes and who have a turnover not exceeding RON 2,250,000.

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Taxation

The hidden VAT – Why Europe escapes from a benefit

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By Dr. Giovanni Bianchi, COMMA 10

In Europe, the desire to compensate for VAT exemptions is growing, as evidenced by the court cases C-216/97 Gregg; C-384/98 D/W; C-498/03 Kingscrest; C-613/2010 Debiasi, by the use of legislation in force (e.g. VAT grouping and exemption for cost-sharing associations) and by proposed legislation (postal sector COM (2003) 234 def; insurance and financial service COM (2007) 746 e COM (2007) 747 def.).

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