Etienne Wong (15 Old Square) examines the CJEU decision and the background to VAT deductibility.
An idée fixe is for life. And they hold fast even in the face of overwhelming evidence they are misconceived. They should not exist at all in the world of VAT where views should be founded in law evolving as developments arise but they do – within HMRC mostly.
One of their idées fixe – on the interaction between so- called non-taxable transactions (transactions that are non-economic or otherwise fall outside the scope of VAT) and input tax deductibility – was tested in a recent referral to the CJEU: University of Cambridge (Case C-316/18).
Before we dive into the case let’s review the known knowns of VAT deductibility.
The known knowns
In order to deduct VAT they have...
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Etienne Wong (15 Old Square) examines the CJEU decision and the background to VAT deductibility.
An idée fixe is for life. And they hold fast even in the face of overwhelming evidence they are misconceived. They should not exist at all in the world of VAT where views should be founded in law evolving as developments arise but they do – within HMRC mostly.
One of their idées fixe – on the interaction between so- called non-taxable transactions (transactions that are non-economic or otherwise fall outside the scope of VAT) and input tax deductibility – was tested in a recent referral to the CJEU: University of Cambridge (Case C-316/18).
Before we dive into the case let’s review the known knowns of VAT deductibility.
The known knowns
In order to deduct VAT they have...
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:
