Peter Dylewski and Philippe Gamito (KPMG) examine the CJEU judgment in MVM and the need for taxpayers to take practical steps to ensure they mitigate potential VAT costs on acquisitions.
To challenges as to how he had reached his ingenious deductions Sir Arthur Conan Doyle’s famous detective Sherlock Holmes would famously respond ‘Elementary!’ before setting out a detailed explanation leaving his interlocutor in no doubt of the link between the observable facts and his final conclusion. Unfortunately for taxpayers input tax deductions have proven anything but elementary where holding companies and acquisition costs are concerned. In many instances tax authorities have challenged attempts to link input tax to onward taxable supplies – both in the UK and other EU member states.
VAT perspective on holding companies
‘There is nothing new under the sun. It has all been done before.’ (A Study in Scarlet)
From a...
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Peter Dylewski and Philippe Gamito (KPMG) examine the CJEU judgment in MVM and the need for taxpayers to take practical steps to ensure they mitigate potential VAT costs on acquisitions.
To challenges as to how he had reached his ingenious deductions Sir Arthur Conan Doyle’s famous detective Sherlock Holmes would famously respond ‘Elementary!’ before setting out a detailed explanation leaving his interlocutor in no doubt of the link between the observable facts and his final conclusion. Unfortunately for taxpayers input tax deductions have proven anything but elementary where holding companies and acquisition costs are concerned. In many instances tax authorities have challenged attempts to link input tax to onward taxable supplies – both in the UK and other EU member states.
VAT perspective on holding companies
‘There is nothing new under the sun. It has all been done before.’ (A Study in Scarlet)
From a...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
