Simmons & Simmons monthly contribution to Tax Journal analysing recent VAT developments.
This article was first published in the 01 June 2018 edition of Tax Journal who have agreed to Simmons & Simmons making it available on elexica.
The advocate general has suggested that the UK approach to supplies under an HP contract, allowing a split between exempt finance and taxable goods, is incompatible with EU VAT law. The Irish (and other member states’) approach to the recoverability of input VAT on share acquisitions has also been called into question by the advocate general. Recent UK cases concern the VAT treatment of loan servicing, the correct approach to customer loyalty scheme redemption payments and whether goods provided free under a retailer promotion are really ‘free’ for VAT purposes.
The VAT Briefing for June 2018 can be read here.
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