The finance ministry has issued a decree instructing tax offices to follow the Ibero Tours ECJ judgment to the effect that a discount offered by an agent at his own expense does not affect the VAT on the amount paid for the supply. Continue reading
Tax & Legal
The finance ministry has extended a temporary provision allowing an averaged discount on the claim provisions of insurance companies to years ending on or before December 31, 2015. Continue reading
The Supreme Tax Court has asked the ECJ to rule on the effects of a discount offered by a travel agency to its customers on its taxable commission paid by tour operators, hotels and other service providers. Continue reading
The Supreme Tax Court has confirmed the validity of an Income Tax Act provision requiring that restoration and rebuilding provisions be discounted.
The finance ministry has issued a decree on the assumption of debts, calling for the new items to be taken up under tax rules, even in the face of the commercial reality of the consideration received.