Carousel fraud
Article Abstract:
The European Court of Justice has followed the advocate-general's opinion in holding that VAT can apply to transactions innocently arising in a chain of transactions where missing trader fraud is present in part of that chain. Innocent parties can claim VAT charged to them, and the court held that the right to deduct input value added tax of a taxable person who carries out such transactions cannot be affected by the fact that in the chain of supply of which those transactions form part another prior or subsequent transaction is vitiated by value added tax fraud, without that taxable person knowing or having any means of knowing.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2006
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Care homes threat
Article Abstract:
The U.K. Revenue & Customs' "Business Brief 23/2006" contains a threatening interpretation of legislation that has a considerable impact on 'relevant residential purpose' buildings', such as care homes. The implication for the value added tax (VAT) paid by companies that develop such properties is discussed.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2007
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Special partial exemption methods
Article Abstract:
Two interesting cases involving special partial exemption methods in value added tax (VAT) are presented.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2007
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