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VAT Treatment of Payment Services

The Revenue Commissioners have published a new Tax and Duty Manual, “VAT Treatment of Payment Services”. Certain financial services including negotiating or dealing in payments and transfers are exempt from VAT and this new manual provides guidance in relation to the nature of such exempt services. Read more

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Prohibition of Abusive Practices

The decision of the Court of Justice of The European Union (CJEU) in the case of Edward Cussens & Others v T.G. Brosnan C-251/16 was published on 22/11/2017. The case concerned the recovery of VAT in relation to property sales. Questions relating to the application of the principle on the prohibition of abusive practices in Ireland were referred to the CJEU. Read more

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Deduction coefficient of VAT on gasoline from 2018

Article 31 of the Finance Act for 2017 (Law No. 2016-1917 of 29 December 2016), modified the deduction coefficient of French VAT on gasoline consumed for business purpose to 20% for 2018 including for commercial vehicles and other vehicles eligible for VAT recovery, whereas no VAT deduction on gasoline was possible for these vehicles until now. Read more

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Credit/Debit Notes Alert

 

I. BACKGROUND

Intertax has noticed that many sellers in case of small and not important adjustments on the sales invoice such as wrong address, dates, invoice number, etc., often issue a credit note and then rise a new invoice that includes all proper data. Such procedure may result in huge negative consequences as the credit notes that decrease the output VAT may be declared in the VAT return only after meeting all obligatory requirements for credit notes. In case meeting those requirements fails, this procedure may lead to temporary double VAT taxation of the transaction. Read more

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Latest Austrian Court Decision About The Possibility To Amend Invoices

Austrian Jurisdiction: The Austrian Administrative Court (VwGH) confirmed that it is possible to amend invoices which are incorrect with respect to formal demands ex tunc under certain conditions.

In the main proceedings an invoice was issued in 2008. The VAT number of the supplier was not shown on the invoice as it was issued after invoicing.

The invoice was corrected in 2011 after the VAT number was issued. The corrected invoice was entitled „Correction“and also the signature of the supplier, the date of the correction and the VAT number were shown. The VAT number was valid from December 10th, 2008 until August 8th, 2009. The recipient deducted input tax in the business year 2008/2009.

The tax office refused the input tax deduction in 2008/2009.

The VwGH referred to the ECJ-judgement C-518/14, Senatex as a similar case and therefore accepted the deduction of input VAT ex tunc.

 

More information concerning VAT Law in Austria

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EMD: meet the TRA Member based in Malta!

EMD is a dynamic and established Maltese firm providing traditional legal services as well as specialized legal and advisory services to its clients both in Malta and overseas.
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