Tax & Legal

Categories: All (4 found)

1. 09.03.2016

   Factor remains liable for VAT even after surrender of the co ...

   The Supreme Tax Court has held that a factor’s liability for the VAT in a factored debt does not cease with the surrender of the proceeds of the debt collection to the original creditor.

   Categories: Supreme Tax Court cases

   Keywords: debt collection, factor, proceeds
2. 26.04.2012

   Sale of bad debts without recourse not a provision of servic ...

   The Supreme Tax Court has held that the sale of currently due, but doubtful, debts at their agreed market value and without further recourse to, or obligations towards, the seller is a VAT-free sale of debts, rather than a taxable debt collection.

   Categories: Supreme Tax Court cases

   Keywords: debt collection, without recourse, Sale ...
3. 27.10.2011

   Sale of bad debts without recourse not a provision of servic ...

   The ECJ has held that the sale of currently due, but doubtful, debts at their agreed market value and without further recourse to, or obligations towards, the seller is a VAT-free sale of debts, rather than a taxable debt collection service.

   Categories: From Europe

   Keywords: bad debt, debt collection, without recou ...
4. 14.07.2011

   Purchase of bad debts not subject to VAT?

   An ECJ advocate general has suggested the purchase of a bad debt portfolio be seen as such and therefore as exempt from VAT. If, however, it is a debt collection service, the VAT basis is the difference between the purchase price and the subsequent collections.

   Categories: From Europe

   Keywords: bad debt, debt collection, mortgage