Where an insolvency practitioner prepares an annual balance sheet, his claim to a payment-on- account is to be treated as a part of the final fee and does not lead to a realisation of profits upon receipt. Continue reading
Tax & Legal
An ECJ advocate general has suggested that management holding companies be allowed an input tax deduction in proportion to the taxable/total turnover of their subsidiaries and that partnership subsidiaries should not be excluded from joining a VAT Group. Continue reading
The ECJ has held that a German tax consultant cannot deduct the input tax on the acquisition of an intangible from one partnership for use by another for lack of his own economic activity. Continue reading
The Supreme Tax Court has asked the ECJ for a ruling on the determination of the amount of deductible input VAT of holding companies with taxable outputs and on the conditions for joining VAT groups. Continue reading
The finance ministry has published a discussion draft decree on the tax treaty treatment of partnerships. Comments are invited by December 2, 2013. Continue reading
The Supreme Tax Court has held that an unlimited partner's fee for management, representation and for liability for the partnership's debts is subject to VAT as a single supply.