News & Analysis as of September 19, 2024

European Union › Value-Added Tax (VAT)

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

UK carbon border adjustment mechanism: shaping up ahead of 2027

A&O Shearman on 4/5/2024

In 2027, the UK will introduce a carbon border adjustment mechanism (CBAM) on imports of certain carbon intensive goods. The CBAM will impose a charge on the emissions embodied in relevant imports that take place on or after...more

Europe Daily News, 8 February 2024

Mayer Brown on 2/9/2024

COMPETITION - Opinion of Advocate General Emiliou of 8 February 2024 in Case C‑425/22, MOL Magyar Olaj- és Gázipari Nyrt. Vs. Mercedes-Benz Group AG...more

Update on Tax, Investment Funds and Real Estate Law - The VAT Exemption for Alternative Investment Funds Is Coming Soon

McDermott Will & Emery on 12/20/2023

Management services for alternative investment funds (AIFs) will be free from value-added tax (VAT) starting in 2024. This is good news for Germany as a fund location because there will finally be alignment with the more...more

UK Tax Round Up - October 2023

Proskauer Rose LLP on 11/6/2023

Welcome to the October edition of the UK Tax Round Up. This month has seen the Supreme Court’s judgment on the operation of the employment-related securities deeming provision, the Court of Appeal’s decision on what...more

Closing the gap: the 2023 EU VAT Gap Report and beyond

A&O Shearman on 11/3/2023

The 2023 EU VAT Gap Report, recently published by the European Commission, demonstrates that the VAT gap narrowed again in 2021, continuing the trend that began in 2013. In this article, we look at factors that are helping to...more

Tax incentives for sustainable investments: what businesses should be thinking about

A&O Shearman on 11/3/2023

We recently hosted an event as part of our Sustainable Transition seminar series titled “Tax incentives for sustainable investments: where are the opportunities?”. In this article, our panellists set out some of the key...more

What You Need to Know About the Amendments to VAT in Para-Hotel Business

BCLP on 10/20/2023

The government has just issued an amendment n°5374 to the draft Finance Bill for 2024 aimed at clarifying the VAT regime applicable to the para-hotel and serviced residences sector, following the Administrative Supreme Court...more

The Edinburgh Reforms: post-Brexit financial (de)regulation

Proskauer Rose LLP on 12/23/2022

On 9 December 2022, the United Kingdom’s Chancellor of the Exchequer announced an expansive set of reforms to the UK’s financial regulatory regime – labelled the “Edinburgh Reforms”. Following the UK’s exit from the...more

The Edinburgh Reforms

Dechert LLP on 12/20/2022

On 9 December 2022, in Edinburgh, the Chancellor of the Exchequer announced a set of reforms that are intended to drive growth and competitiveness in the financial services sector (the Edinburgh Reforms or the Reforms). ...more

UK VAT Treatment of Fund Management Review Announced

Cadwalader, Wickersham & Taft LLP on 12/19/2022

As part of the Edinburgh Reforms announced by the UK Government (link back to “UK FS Reforms”), the UK Government has launched a public consultation on the VAT treatment of fund management. The consultation, published on 9...more

UK Tax Round Up - October 2022

Proskauer Rose LLP on 11/1/2022

Welcome to the October edition of the UK Tax Round Up. October has been an extraordinary month in the UK, with political turbulence triggering reversals of many of the tax policies announced by the government at the end of...more

Sub-Participations Are VAT Exempt Under EU Law

Cadwalader, Wickersham & Taft LLP on 10/20/2022

The Court of Justice of the European Union (the “CJEU”) held on 6 October 2022 in O. Fundusz lnwestycyjny zamknięty reprezentowany przez O S.A. (Case C-250/21) (the “O Fundusz case”) that the supply of services provided by a...more

Chambers Global Aviation Finance & Leasing Guide 2022: Ireland

Walkers on 10/12/2022

1.1.1 Taxes/Duties Payable Upon Execution of the Sales Agreement VAT Whether there will be any VAT payable on the sale of an aircraft is determined by its physical location at the point of sale. If the aircraft is physically...more

EU Advocate-General Opined Sub-Participation Not within VAT Exemption for Granting Credit

Cadwalader, Wickersham & Taft LLP on 7/25/2022

In O. Fundusz lnwestycyjny Zamknięty reprezentowany przez O S.A. (Case C-250/21) (the “O Fundusz case”), Advocate-General Medina (the “AG”) of the Court of Justice of the European Union (“CJEU“) opined that the supply of...more

UK Tax Round Up - May 2022

Proskauer Rose LLP on 6/8/2022

Welcome to May's edition of the UK Tax Round Up. This month has seen a number of interesting court decisions, an important opinion of the European Commission’s Advocate General and the commencement of a Treasury consultation...more

UK Tax Round Up - January 2022

Proskauer Rose LLP on 2/10/2022

UK Case Law Developments - Contributions to remuneration trust scheme not tax deductible - In Strategic Branding Ltd v HMRC, the First-tier Tribunal (FTT) held that sums contributed by the taxpayer company to a...more

Katten Corporate and Real Estate Tax Case Roundup – February 2022

Katten Muchin Rosenman LLP on 2/9/2022

In this roundup, we look at some of the key cases in corporate and real estate tax from December 2021 to January 2022, including the value–added tax (VAT) decisions on input VAT that was not passed on to final consumers and...more

EPPO - Right out of the starting blocks

A&O Shearman on 11/8/2021

On 1 June 2021, the European Public Prosecutor's Office (the EPPO), the new prosecution office at European Union level, officially started its operations. Since then, it already opened more than 300 investigations. ...more

New Developments on the VAT Exemption for Fund Management Services

Goodwin on 7/30/2021

On 17 June 2021, the Court of Justice of the European Union (CJEU) rendered two decisions about the application of the VAT exemption for management services provided in article 135 (1) (g) of the EU VAT Directive and...more

European Public Prosecutor's Office Begins its Work Defending EU Financial Interests

Jones Day on 6/29/2021

On June 1st, 2o21,the European public prosecuters office, the European Union's new arm to combat fraud, became operational. The key elements of the new Public Prosecutor's Office are as follows...more

Adapting to Brexit: The New EU-UK Trading Relationship

WilmerHale on 5/4/2021

This Alert gives a high level overview of the new trading relationship between the European Union (‘EU’) and the United Kingdom (‘UK’) for goods and service supply. The EU and the UK reached provisional agreement on a...more

Real estate securitisations: guidance by Italian tax authorities on the applicable tax treatment

Hogan Lovells on 3/12/2021

With ruling No. 132 of 2 March 2021 (the “Ruling”), the Italian Tax Authorities (“ITA”) provided clarifications on the tax regime applicable to real estate special purpose companies (the “RE SPVs”) carrying out securitisation...more

UK Tax Round Up - February 2021

Proskauer Rose LLP on 3/10/2021

UK Case Law Developments - EIS relief not available for shares carrying preferential rights - The Upper Tribunal (UT) in Foojit v HMRC dismissed the taxpayer’s appeal against the First-tier Tribunal’s (FTT’s) decision...more

Establishing A Business Entity In Liechtenstein (Updated)

International Lawyers Network on 3/3/2021

The Principality of Liechtenstein lies at the centre of Europe, nestled between Switzerland and Austria, next to the river Rhine. The form of government is a constitutional monarchy established on democratic parliamentary...more

What business needs to know about trading goods under the EU-UK Trade and Cooperation Agreement

White & Case LLP on 1/4/2021

In this alert, we focus on the key takeaways for trade in goods under the EU-UK Trade and Cooperation Agreement ("EU-UK TCA"). Bilateral trade between the UK and EU will be duty free and quota free provided the relevant...more

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European Union › Value-Added Tax (VAT)

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