Download or read book Immovable Property under VAT written by Robert F. van Brederode and published by Kluwer Law International B.V.. This book was released on 2011-05-12 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ideal value-added tax (VAT) would carry an economic efficiency ratio of 100 as, in theory, VAT should not be susceptible to exemptions and rate variations. However, practical reality tells a different story, and it will come as no surprise to learn that the VAT systems of almost all countries remain far from the benchmark, and that this is particularly the case when VAT is applied to real estate. This book describes and analyses VAT treatment of real estate transactions in six representative countries: Australia, Canada, Germany, Japan, Mexico, and the United Kingdom. As in any jurisdiction, the VAT schemes covered must accommodate complex factual matrices that demand consistent, fair, and equal treatment. Among these VAT determinants the authors, each an expert in the national tax law of one of the six countries, address the following: types of real estate sales; long versus short term leases; commercial versus residential use; newly constructed versus existing property; status of the parties involved as taxable or non-taxable for VAT; taxable and tax-free supplies; special rules for charities, mooring facilities, aircraft, sports facilities, etc.; subdivision of apartments into title units; commercial residential premises; construction work; cross-border supply of construction work and services; and transfer of a ‘going concern’. The discussions also include the practical areas of accounting for VAT, administrative compliance, personal tax liability, and VAT refund and overpayment certification processes, as well as thorough consideration of relevant case law and examination of frequently litigated matters. Each author has designed his or her chapter to ensure that the technical nuances of each system are explained. An introductory chapter outlines economic theory and preferred VAT treatment of real estate transactions, and compares the variety of solutions applied in the six countries covered. Although a number of legal works exist on real estate under VAT in single jurisdictions, this is the first book to combine a multi-jurisdictional approach with attention to relevant economic theory, allowing for a very useful assessment of best practices. For this reason it is sure to be welcomed by practitioners and academics not only as an overview of the problem areas encountered when designing VAT policy, but also as a reference in applying VAT to real estate transactions.

Download or read book Fundamentals of EU VAT Law written by Frank Nellen and published by Kluwer Law International B.V.. This book was released on 2020-08-19 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: Parties to cross-border disputes arising anywhere in the vast Portuguese-speaking world – a community of more than 230 million in a space that offers a wide array of investment opportunities across four continents – increasingly seek Portugal as their preferred seat of arbitration. A signatory to all relevant international conventions, Portugal has proven to be an ‘arbitration-friendly’ jurisdiction. This volume is the first and so far only book in English that provides a thorough, in-depth analysis of international arbitration law and practice in Portugal. Its contributing authors are among the most highly regarded legal names in the country, including scholars, arbitrators, and practitioners. The authors describe how international arbitration proceedings are conducted in Portugal, what cautions should be taken, and what procedural strategies may be suitable in particular cases. They provide insightful answers to questions such as the following: What matters can be submitted to arbitration under Portuguese law? What are the validity requirements for an arbitration agreement? How do the State courts interact with arbitration proceedings and what is the attitude of such courts toward international arbitration? What are the rules governing evidentiary matters in arbitration? How is an arbitration tribunal constituted? How are arbitrators appointed? How may they be challenged? How can an international arbitral award be recognized and enforced? How does the Portuguese legal system address the issue of damages and what specific damages are admitted? How are the costs of arbitration proceedings estimated and allocated? The book includes analyses of arbitration related to specific fields of the law, notably sports, administrative, tax, intellectual property rights (especially regarding reference and generic medicines), and corporate disputes. Each chapter provides, for the topics it addresses, an examination of the applicable laws, rules, arbitration practice, and views taken by arbitral tribunals and state courts as well as those of the most highly considered scholars. As a detailed examination of the legal framework and of all procedural steps of an arbitration in Portugal, from the drafting of an arbitration agreement to the enforcement of an award, this book constitutes an invaluable resource for parties involved in or considering an international arbitration in this country. The guidance that it seeks to provide in respect of any problem likely to arise in this context can be useful to arbitrators, judges, academics, and interested lawyers.

Download or read book VAT and Immovable Property written by Rebecca Millar and published by . This book was released on 2016 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should immovable property (in particular residential property) be treated under a value added tax? This paper considers whether proposals to tax all sales of immovable property (including consumer to consumer sales) are preferable to existing models (in which the first sale of new residential property is taxed - the price representing the net present value of the future consumption of the asset purchased - and subsequent sales are exempt).After setting out the essential features of a modern VAT, the paper outlines the consequences of taxing immovable property in full under a VAT, using an example that is gradually changed to illustrate the effects of different approaches. The examples illustrate how full taxation of sales of immovable property equates to non-taxation, while taxing re-sales of residential property with deferred input tax credits (whether without indexation, as proposed by Poddar, or with, as proposed by Conrad) amounts to a capital gains tax on homeowners. The paper concludes that existing models are not merely acceptable alternatives to a full taxation ideal but are in fact the only approach that is consistent with the underlying design of transaction-method VATs. The final section of the paper focuses on how exactly how such models can be given legal effect, using the New Zealand and Australian GSTs as examples. The discussion highlights one critical design feature of both countries' laws, which is ignored in most comparative tax discussions. Both countries target their GST only at value added to land by persons carrying on economic activities. They exclude from the tax base any capital appreciation (or depreciation) on immovable property held by owner-occupiers, residential landlords, and mere investors - an effect that is diametrically opposed to the proposals of Poddar and Cnossen. For reasons explained in the paper, the New Zealand approach has the advantage of being simpler and conceptually clearer, from a legal perspective, and is probably to be preferred.

Download or read book Letting of Immovable Property an Overview of the Portuguese Further Exclusion to the VAT Exemption written by V. Loureiro e Silva and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Portugal has made use of the option laid down in article 135(2)(2) of the VAT Directive, this Directive providing for a further exclusion to the scope of the VAT exemption applicable to the leasing or letting of immovable property. In this article, the author describes the key aspects of the Portuguese further exclusion and discusses whether it is in accordance with EU law.

Download or read book VAT in Africa written by Richard E. Krever and published by PULP. This book was released on 2008 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collection of articles reviewing the experience of the implementation of VAT in Africa. Besides analyses, the articles offer guidelines for reforming and improving both technical and administrative aspects of the tax. The several chapters consider design and structure of the VAT, VAT and specific factors, administrative aspects of VAT, Inter-jurisdictional and international aspects of VAT, and VAT and Francophone Africa.

Download or read book Option to Subject the Letting of Immovable Property to VAT written by M. Possoz and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: On 25 October 2018, Belgium (finally) introduced the highly anticipated optional regime to subject the letting of immovable property to VAT as of 1 January 2019. Until recently, Belgium was the only EU Member State that had not yet introduced such an optional VAT regime. In this article, the authors describe the specific exclusion categories and structures that have been used in the past to avoid the VAT exemption under the former regime and examine the new regime and how these structures can still be used today.

Download or read book A VAT GST Model Convention written by Thomas Ecker and published by IBFD. This book was released on 2013 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the increasing problem of double taxation concerning value added tax (VAT)/goods and services tax (GST) and the resulting constraints to international trade, it is time for the international community to take action. This book analyses the phenomenon of VAT/GST double taxation and possible remedies. VAT/GST treaties would be one of them. But how should one design a VAT/GST treaty? To what extent do existing income tax treaties already apply to VAT/GST? Can income tax treaties simply be extended to VAT/GST or is there a need for a separate, independent VAT/GST treaty? Can the concepts, functioning, and structure of income tax treaties be used for VAT/GST purposes? What are possible alternatives? What should the scope of a VAT/GST treaty be? How can taxing rights be allocated between the parties to a treaty?

Download or read book International VAT GST Guidelines written by OECD and published by OECD Publishing. This book was released on 2017-04-12 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International VAT/GST Guidelines present a set of internationally agreed standards and recommended approaches for the consistent application of VAT to international trade, with a particular focus on trade in services and intangibles.

Download or read book European VAT Law as Interpreted by the Court of Justice written by Erik Stessens and published by Kluwer Law International B.V.. This book was released on 2022-11-22 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value added tax (VAT) is often considered the most important development in tax of the past century. Although generally successful – it can account for a large proportion of state revenue – it has spawned its own set of complex problems that require a corresponding set of legal skills to resolve. This book, by systematically drawing out the rules from a thorough analysis of the VAT Directive and as good as every VAT case ever decided by the Court of Justice of the European Union (CJEU) (850 in all), is the ideal day-to-day guide to European VAT law. The rules – and their applications – for such VAT matters as the following are clearly described with examples: distinction between supplies of goods and services for VAT purposes; bundled supplies; intra-Community acquisitions; when tax liability starts and ends; place of supply rules and their exceptions; exemptions in the real estate, finance, and insurance sectors; import and export exemptions; right to deduct VAT; abuse of rights; the problem of incorrect invoices; refund of VAT; and special schemes. An extensive keyword register facilitates navigating the book. Developed from the author’s daily practice as a tax counsel, this book will be of immeasurable value to tax consultants, lawyers, in-house counsel, tax authority officials, and taxation academics, not only in Europe but beyond.

Download or read book Immovable Property Under Domestic Law EU Law and Tax Treaties written by Guglielmo Maisto and published by . This book was released on 2015 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, comprising the proceedings and working documents of an annual seminar held in Milan in November 2014, provides a thorough analysis of the taxation of immovable properties. 0The analysis starts from a survey of the concept of “immovable property” in common and civil law jurisdictions and then considers how different approaches affected the taxation of income deriving therefrom. 0EU tax law issues are then taken into consideration, both from an income tax and VAT viewpoint. In particular, the income tax analysis provides an extensive examination of how taxation of immovable property applied by EU Member States may affect fundamental freedoms.

Download or read book European VAT and the Sharing Economy written by Giorgio Beretta and published by Kluwer Law International B.V.. This book was released on 2019-10-24 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: A breadth of new digital platforms has dramatically expanded the range of possibilities for exchanging anything required by business or personal needs from accommodation to rides. In the virtual marketplaces shaped and ruled by these novel matchmakers, rather than by a single centralized entity, value is created through the granular interaction of many dispersed individuals. By allowing instantaneous and smooth interaction among millions of individuals, platforms have indeed pushed the digital frontier farther and farther, so as to include within it even services once not capable of direct delivery from a remote location such as accommodation and passenger transport. Legal disruption is also underway with foundational dichotomous categories, such as those between suppliers and customers, business and private spheres, employees and self-employed, no longer viable as organizational legal structures. This is the essential background of the first book to relate what is synthetically captured under the umbrella definition of ‘sharing economy’ to key features at the core of European Value Added Tax (EU VAT) and to look at the feasibility of a reformed EU VAT system capable of addressing the main challenges posed by these new models of production, distribution and consumption of goods and services. Specifically, the study analyses five legal propositions underpinning the current EU VAT system as the following: taxable persons; taxable transactions; composite supplies; place of supply rules; and liability regimes for collection and remittance of VAT. Exploration of these five legal propositions is meant to assess the practical feasibility of shoehorning the main sharing economy business models – notably, those available in the accommodation and passenger transport sectors – into the framework of existing EU VAT provisions. The author further draws on the normative standards of equality, neutrality, simplicity, flexibility and proportionality to test the ‘reflexes’ of the current EU VAT system in the sharing economy domain. Opportunities for reform of the current EU VAT system are in turn evaluated with each chapter including cogent proposals in the form of incremental and targeted amendments to the current EU VAT provisions. As the first comprehensive analysis of the treatment of the sharing economy for VAT purposes, the book provides not only a theoretical framework for future studies in the tax field but also indispensable practical guidance for VAT specialists confronting daily with the many challenges ushered in by the sharing economy. Moreover, the various solutions and recommendations advanced in the book offer valuable insights to international and national policymakers dealing with similar issues under other VAT systems.

Download or read book EU Value Added Tax Law written by K PE Lasok and published by Edward Elgar Publishing. This book was released on 2020-08-28 with total page 1150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This meticulously researched book provides a practical commentary on, and analysis of, the harmonised system of Value Added Tax (VAT) in the European Union and each of its Member States. Written by a team of expert practitioners led by KPE Lasok QC, an authority on European law with extensive practical experience of VAT and Customs cases, this book is destined to become the reference work of choice on VAT for both practitioners and scholars.

Download or read book A Guide to the European VAT Directives written by Ben Terra and published by IBFD. This book was released on 2012 with total page 1317 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Vat in the Digital Era written by and published by Oxford University Press. This book was released on 2023-12-14 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the growth of the digitalized economy, VAT on cross-border digital supplies has emerged as an important issue. Yet, views and practices regarding the application of the VAT on these supplies differ significantly across different jurisdictions. A lack of international VAT harmonization can cause double taxation or unintended double non-taxation, resulting in distortions and revenue losses. VAT in the Digital Era considers unilateral and multilateral options for the creation of an internationally coordinated VAT framework. Providing analysis of the status quo in key jurisdictions, the book explores the implications of the digitalized economy for the VAT systems across borders. It outlines possible approaches that can be taken to achieve a more consistent international VAT treatment of cross-border supplies, and the extent to which a multilateral solution would be preferable and achievable at the international level. Bringing together contributions from leading international voices in the VAT law and policy and international taxation fields, VAT in the Digital Era addresses current issues and proposes ways to coordinate VAT rules on cross-border digital supplies. This new book is essential reading for academics, researchers, governments, and other financial organisations involved with the world's most important indirect tax.

Download or read book Recast VAT Directive written by Easygotax VAT Solutions and published by Taxeye. This book was released on 2014-04-01 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recast Value Added Tax (VAT) Directive

Download or read book VAT on Property Made Simple written by Michael O’Connor and published by A&C Black. This book was released on 2012-03-31 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: This provides detailed commentary outlining the new rules governing the application of VAT on property. It is an essential title for practitioners concerned with property legislation and the new VAT system in place. Written for practitioners by practitioners,VAT on Property - Made Simple adopts a unique ’transaction based approach’ in analysing this complex area of property tax. It is an essential tool for every professional advisor working in the property business. Key Features Numerous detailed examples, tax tips and taxtraps are used to explain how such transactions are now liable/exempt from VAT under the new VAT system; Provides useful precedents to assist practitionersin drafting Contract, Lease and VAT Clauses, other VAT documents and records; Written by expereinced practitioners for practitioners; Full coverage of the background, legislation and principles of the new VAT system.

Download or read book Consumption Tax Trends 2014 VAT GST and excise rates trends and policy issues written by OECD and published by OECD Publishing. This book was released on 2014-12-10 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumption Tax Trends provides information on Value Added Tax/Goods and Services Tax (VAT/GST) and excise duty rates in OECD member countries.