InNLB Leasing d.o.o. v Republika Slovenija(C-209/14) (2 July 2015) the CJEU found that the forfeiture of a property subject to a sale and leaseback did not give rise to a right to repayment of VAT.
Domino had entered into a sale and leaseback of property with a bank NLB. NLB had paid VAT on the rental payments invoiced to Domino under the lease. Since Domino had not paid all the instalments due to NLB on expiry of the lease NLB had taken possession of the property. NLB had then sold it to a third party and paid the surplus proceeds of sale to Domino.
The first question was whether the grant of the lease was a supply of goods or services. On the basis that the lease transferred all the risks and rewards of legal ownership to the lessee...
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:
InNLB Leasing d.o.o. v Republika Slovenija(C-209/14) (2 July 2015) the CJEU found that the forfeiture of a property subject to a sale and leaseback did not give rise to a right to repayment of VAT.
Domino had entered into a sale and leaseback of property with a bank NLB. NLB had paid VAT on the rental payments invoiced to Domino under the lease. Since Domino had not paid all the instalments due to NLB on expiry of the lease NLB had taken possession of the property. NLB had then sold it to a third party and paid the surplus proceeds of sale to Domino.
The first question was whether the grant of the lease was a supply of goods or services. On the basis that the lease transferred all the risks and rewards of legal ownership to the lessee...
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:
