Tax & Legal

Categories: All (2 found)

1. 04.10.2025

   Supreme Tax Court rejects loss offsetting scheme with securi ...

   Section 20 (4a) sentence 3 of the Income Tax Act (ITA) provides that certain capital-related measures are initially treated as tax neutral. Taxation only occurs at the time of resale of the securities which were delivered in the course of the capital transaction. In a recent judgment, the Supreme Tax Court decided that this does not apply to cases in which neither the issuer nor the holder has the right under the contractual terms to unilaterally tender securities or demand the delivery of securities instead of repayment of the securities in cash.

   Categories: Supreme Tax Court cases

   Keywords: loss offset, securities dealings, capita ...
2. 22.05.2012

   Portfolio management services chargeable to VAT?

   An ECJ advocate general has suggested the court hold the portfolio management services offered by banks to private customers are subject to VAT where the bank is resident, or in the state of residence of the customer if outside the EU.

   Categories: From Europe

   Keywords: portfolio management services, securitie ...