The sale of shares is exempt from VAT and therefore the VAT authorities generally reject the VAT deduction on the costs linked to such sale. This position was moderated by the CJEU (Skatteverket c/ AB SKF Case, C-29/08), who confirmed that there is a right to deduct input VAT on the costs related to a
In the context of a simplification of the Belgian VAT compliance, the Belgian Finance Minister has announced the abolishment of the mandatory monthly advance payments on VAT for quarterly VAT declarants. The Royal Decree will be published shortly and should take effect as from 1 April 2017. Background Currently, quarterly VAT declarants are subject to
Yesterday, the EU Commission has introduced a series of proposals to simplify the VAT rules for e-commerce and reduce compliance on online sales of goods. The proposals include: Broadening of the One-Stop-Shop system to companies selling goods online (distance sales); Thresholds for cross-border sales of electronic services; Removal of the VAT exemption for small value
The referendum result on Brexit has not only led to economic and political uncertainty within the UK, but also on mainland Europe. The final impact of Brexit is yet unknown, but will certainly weigh down on our economy, business activity and financial markets. You may find the following PwC Brexit Monitor on the subject matter interesting.
VAT exemption for intra-Community supplies: Transport document can be replaced by destination document
In order to apply the VAT exemption for intra-Community supplies in Belgium (article 39bis of the Belgian VAT Code), Belgian VAT authorities require the supplier (amongst others) to obtain and keep a set of commercial documents that the goods have been transported from Belgium to another Member State. Suitable evidence includes contracts, purchase orders, transport
The UK’s decision to leave the EU will have far reaching implications for the financial services sector. As the detailed political and legal issues are worked out over the coming months there is a wealth of complexity to be considered and navigated. Please join us on Friday 1 July at 9.30am when our experts will be discussing