Tax & Legal News – Issue 1, January 2014

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

PwC Reports

  • Discussion draft on partnerships

Official Pronouncements

  • Provisions for profit-based pensions
  • Transactions in own shares
  • Tax consequences of dissolution of German resident British company
  • Salary fraud free of payroll withholding tax
  • Discounting of insurers’ claim provisions
  • Finance ministry circular on redundancy payments
  • Spouse living in Switzerland can rank as liable to German tax
  • Finance ministry rejects bond stripping scheme
  • Option for VAT on sale of real estate
  • VAT on waste disposal
  • VAT on returnable containers
  • VAT exemption for investment consultancy to investment trust funds
  • Permanently moored houseboat to be let as property
  • VAT on catering sales – transition
  • Changeover rules for margin taxation

Supreme Tax Court Cases

  • Costs associated with mutual agreement proceeding are not costs of earning income
  • Dividends to US “S corporation” rank for full treaty relief
  • Foreign partner receives business income from the interest on a share-holder loan to associated company
  • Global estimate of taxable income from foreign fund inhibits free move-ment of capital?
  • Exclusion of deduction for private pension paid by non-resident in breach of community law?
  • No provision for the costs of following an official injunction until the deadline has passed
  • Payment recipient must be clearly identified
  • No tonnage tax for short-term operations
  • Tonnage tax hidden reserve taxable in Germany on retirement of Belgian partner
  • Trade tax deduction for shipping in international waters independent of term of operation
  • Tax on gifts only if gift taxable income of recipient
  • Employee events: fewer costs to be taken into account
  • Compulsory employer contributions to Swiss pension fund tax-free in Germany
  • Regular place of work not affected by renewed secondment
  • Foreign business to recover input tax with VAT return if any output tax owed
  • VAT refund claim from third country must be signed by authorised signatory
  • Community law precedence for VAT input tax deduction
  • Payment to agent for free-of-charge mobile phone is third-party payment
  • No input tax deduction on intra-community sale of VAT-free goods
  • Input tax on transfer agents’ fees not automatically deductible by club
  • VAT input tax apportionment by value for gaming hall
  • Missing VAT payments as obvious error in a receipts and payments account

From Europe

  • Anti-avoidance amendment to Parent/Subsidiary Directive
  • No right of taxpayer to be involved in mutual assistance requests
  • Failure to relieve loss on sale of property abroad does not inhibit free movement of capital
  • Inheritance tax personal allowances inhibit freedom of capital movement
  • Gaming taxes do not conflict with VAT Directive
  • Penalty tax on “intransparent” investment fund hinders free movement of capital?
  • Denial of corporation tax credit for foreign dividend justified by systematic differences?

From PwC

  • Breaking news


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