Chris Bates and Susie Brain (Norton Rose Fulbright) explore the debate in relation to some recent case law.
M&A: share acquisitions
In the context of large corporate transactions the greatest part of fees incurred may be in respect of VAT exempt services provided by the financial advisers but another significant cost is likely to be standard rated fees of accountants and lawyers acting in the transaction. The question of recovery of VAT in an M&A context is the subject of the recent advocate general’s opinion in Ryanair (Case C-249/17).
Starting with the basic principles for input VAT recovery the first question to ask will be: is the acquisition vehicle a taxable person and therefore potentially entitled to recover input tax on services provided to it? Much time has been devoted to this question in the context of holding companies. It is clear from the Polysar...
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Chris Bates and Susie Brain (Norton Rose Fulbright) explore the debate in relation to some recent case law.
M&A: share acquisitions
In the context of large corporate transactions the greatest part of fees incurred may be in respect of VAT exempt services provided by the financial advisers but another significant cost is likely to be standard rated fees of accountants and lawyers acting in the transaction. The question of recovery of VAT in an M&A context is the subject of the recent advocate general’s opinion in Ryanair (Case C-249/17).
Starting with the basic principles for input VAT recovery the first question to ask will be: is the acquisition vehicle a taxable person and therefore potentially entitled to recover input tax on services provided to it? Much time has been devoted to this question in the context of holding companies. It is clear from the Polysar...
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:
