Lee Squires and Fiona Bantock (Hogan Lovells) examine the recent decisions in Fiscale Eenheid X, Associated Newspapers, Adecco UK and WebMindLicences.
Fiscale Eenheid X: management of assets owned by real estate funds
In Fiscale Eenheid X (C-595/13)(reported in Tax Journal 8 January 2015) the CJEU ruled that an investment fund that invests in real property may qualify as a ‘special investment fund’ for VAT purposes provided it is subject to state supervision with the result that the management of the fund is exempt from VAT.
While the CJEU did not specify exactly what it means by state supervision this seems to mean that the investment fund in question must be subject to a national regulatory regime.
However the CJEU also held that ‘management’ for the...
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Lee Squires and Fiona Bantock (Hogan Lovells) examine the recent decisions in Fiscale Eenheid X, Associated Newspapers, Adecco UK and WebMindLicences.
Fiscale Eenheid X: management of assets owned by real estate funds
In Fiscale Eenheid X (C-595/13)(reported in Tax Journal 8 January 2015) the CJEU ruled that an investment fund that invests in real property may qualify as a ‘special investment fund’ for VAT purposes provided it is subject to state supervision with the result that the management of the fund is exempt from VAT.
While the CJEU did not specify exactly what it means by state supervision this seems to mean that the investment fund in question must be subject to a national regulatory regime.
However the CJEU also held that ‘management’ for the...
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:
