Tax & Legal News - Issue 3, May 2013

In this issue: PwC Reports, Official Pronouncments, Supreme Tax Court Cases, From Europe and From PwC.

PwC Reports

Legislative action delayed further

Official Pronouncements

Treaty policy

Taxpayers may delay new valuation rules for finished goods

Supreme Tax Court ruling on option premium applies to hedges only

Income tax of foreign artists

Payment of specific car costs does not reduce benefit in kind

Meals – sale of foodstuffs or a restaurant service?

Supreme Tax Court Cases

Old corporation tax rate on German branch income of non-EU companies confirmed

Taxable income must take all subsequent events into account

Acquired pension provision to be carried at consideration received

Costs of aborted acquisition immediately deductible

Asset transfer costs from sidestream and downstream mergers not deductible

First €1 m full loss offset for each period of assessment

No gifts between company and its shareholders

Bank officer not liable for probable evasion by customers

No resurrection of statue-barred loss on tax amnesty

Rejection of credit note leads to loss of input tax deduction

Special duty of care on cash sales to businesses in other member states

From Europe

No immediate tax on move to another member state

Interest on tax in breach of community law to run from date of tax payment

Non-business entity may be member of a VAT group

From PwC

Breaking news

New publication: Tax strategy and corporate reputation

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