Lee Squires and Fiona Bantock (Hogan Lovells) report the latest VAT developments that matter.
MBFS: supply of goods or services
In HMRC v Mercedes-Benz Financial Services UK Ltd (Case C-164/16) (reported in Tax Journal 16 June 2017) Advocate General Szpunar (AG) opined on when a lease will constitute a supply of goods (rather than services) for VAT purposes. Under article 14(2)(b) of the VAT Directive (2006/112/EC) there will be a supply of goods where goods are handed over pursuant to a contract for their hire or sale on deferred terms which provides that ‘in the normal course of events ownership is to pass at the latest upon payment of the final instalment’.
MBFS offers three financial products related to the use and acquisition of vehicles: leasing hire purchase and a mixed agreement called ‘Agility’. Under an ‘Agility’ contract the customer hires a...
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Lee Squires and Fiona Bantock (Hogan Lovells) report the latest VAT developments that matter.
MBFS: supply of goods or services
In HMRC v Mercedes-Benz Financial Services UK Ltd (Case C-164/16) (reported in Tax Journal 16 June 2017) Advocate General Szpunar (AG) opined on when a lease will constitute a supply of goods (rather than services) for VAT purposes. Under article 14(2)(b) of the VAT Directive (2006/112/EC) there will be a supply of goods where goods are handed over pursuant to a contract for their hire or sale on deferred terms which provides that ‘in the normal course of events ownership is to pass at the latest upon payment of the final instalment’.
MBFS offers three financial products related to the use and acquisition of vehicles: leasing hire purchase and a mixed agreement called ‘Agility’. Under an ‘Agility’ contract the customer hires 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:
