Insurance In European Vat
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Intermediation Of Insurance And Financial Services In European Vat
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Author : Claus Bohn Jespersen
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2011-01-01
Intermediation Of Insurance And Financial Services In European Vat written by Claus Bohn Jespersen and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Law categories.
The current European VAT legislation encompassing insurance and financial services, including intermediation thereof, dates back to the adoption of the Sixth VAT Directive in 1977. The definitions do not, however, encompass the current complexity of insurance and financial transactions. This has resulted in considerable confusion for fiscal authorities and for businesses when deciding upon the application of the VAT exemption. As the correct VAT treatment has a significant economic impact on businesses, a great number of cases have been referred to the Court of Justice of the European Union. This is also the reason why the European Commission presented its proposal for the future treatment of insurance and financial services, including intermediation thereof, in November 2007. The political process has not yet been finalised and if the Commission's proposal is agreed upon, the question of understanding the definitions still exists. This book deals with the exemption for intermediation of insurance and financial services within European VAT. This implies analysing the methods of interpretation applied by the Court of Justice of the European Union when interpreting the provisions regarding insurance and financial services. Furthermore, the current definitions for intermediation of insurance and financial services as provided for in the VAT Directive are analysed and conclusions are made in order to define a single concept of intermediation. These analyses are followed by various practical scenarios from case law of the Member States concerning intermediation of insurance and financial services. Finally, comments based on the analyses carried out are given on the European Commission's proposal for amending the VAT Directive and the accompanying Regulation regarding intermediation of insurance and financial services.
Insurance In European Vat
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Author : Marta Papis-Almansa
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2016-11-30
Insurance In European Vat written by Marta Papis-Almansa and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-30 with Law categories.
Insurance constitutes a significant part of the financial services sector and is one of the foundations of modern economy and society. In the design of tax laws, however, whether and how to tax insurance is a complex issue that has become particularly controversial in the area of value-added tax (VAT). In the European Union, as in most of the world, insurance is exempt from VAT, but New Zealand and Australia do not follow this practice. Given that New Zealand’s simple, comprehensive goods and services tax (GST) – called ‘the world’s purest value-added tax’ – and its modified Australian version do not appear to suffer from the shortcomings in efficiency and effectiveness that plague European VAT, a comparison of the two systems is in order. This book is not only the first comparative in-depth study of the treatment of insurance in the two systems, but also the first comprehensive legal research devoted to the treatment of insurance in EU VAT published in English. Among the underlying issues and topics treated by the two systems covered are the following: – who has a right to deduct input VAT in relation to supplies inherent in insurance arrangements and to what extent; – what constitutes a supply of insurance and consideration for such a supply; – what transactions fall within the scope of the VAT Directive’s exemption for insurance; and – drawing a line between insurance and saving. The analysis is grounded in a methodology in which concepts of European VAT are compared with concepts performing the same function in the Australian and New Zealand GST laws. The author concludes with proposals for reform in EU VAT in the light of experience in these two major non-EU countries. Given that it has been proven that exemptions from VAT (such as insurance) cause a significant number of economic distortions and inefficiencies, this study represents a major contribution to a topical debate in European VAT law. It will be welcomed by taxation authorities, interested policymakers, practitioners, and scholars not only in Europe but worldwide.
Insurance In The European Vat
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Author : Marta Papis-Almansa
language : en
Publisher:
Release Date : 2016
Insurance In The European Vat written by Marta Papis-Almansa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
European Vat Law As Interpreted By The Court Of Justice
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Author : Erik Stessens
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2022-11-22
European Vat Law As Interpreted By The Court Of Justice written by Erik Stessens and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-22 with Law categories.
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.
Ecj Recent Developments In Value Added Tax
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Author : Michael Lang
language : en
Publisher:
Release Date : 2014
Ecj Recent Developments In Value Added Tax written by Michael Lang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Value-added tax categories.
Establishments In European Vat
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Author : Madeleine Merkx
language : en
Publisher:
Release Date : 2013
Establishments In European Vat written by Madeleine Merkx and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Value-added tax categories.
This book provides an in-depth legal analysis of how the massively changed circumstances of the two last decades affect the EU VAT Directive. In particular it examines the interpretation of its four specified types of establishment: place of establishment, fixed establishment, permanent address, and usual residence. The book explains a lot of topics, such as the concept of fair distribution of taxing powers in VAT; role of the neutrality principle; place of business for a legal entity or partnership, for a natural person, for a VAT group; beginning and ending of a fixed establishment; VAT audits and the prevention of fraud; the intervention rule and the reverse charge mechanism; right to deduct VAT for businesses with multiple establishments; and cross-border VAT grouping and fixed establishment. Also explained are exceptions that take precedence over the general rules.
Vat And Financial Services Fourth Edition
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Author : Mark Chesham
language : en
Publisher:
Release Date : 2023-01-02
Vat And Financial Services Fourth Edition written by Mark Chesham and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-02 with categories.
VAT and Financial Services takes the reader through the relevant legislation and case law, the legal concepts such as time and place of supply, the distinction between goods and services, what is taxable, and the interaction of these elements; examines the consequences of outsourcing (through a detailed study of 10 significant cases); looks at the key issues facing financial services and insurance; and then discusses the VAT cost sharing exemption. Since the third edition, there have been significant developments, including (most obviously) Brexit. The key VAT change is that EU legislation is no longer primary legislation (although many EU VAT principles, obligations and rights have been ' retained' ) and ECJ court decisions are, in general, no longer binding although ' a court or tribunal may have regard to anything done on or after exit day by the European Court, another EU entity or the EU so far as it is relevant to any matter before the court or tribunal' (European Union (Withdrawal) Act, 2018 s6(2)). Specific changes include to the VAT (Specified Supplies) Order 1999, and to the status of Cost Sharing Groups.
Taxation Of Life Insurance In Europe
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Author : European Insurance Committee
language : en
Publisher:
Release Date : 1999
Taxation Of Life Insurance In Europe written by European Insurance Committee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Derivatives In The Context Of The Scope Of Taxable Supplies
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Author : Marja Hokkanen
language : en
Publisher:
Release Date : 2020
Derivatives In The Context Of The Scope Of Taxable Supplies written by Marja Hokkanen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
A Business Guide To The Single Financial Market
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Author : Commission of the European Communities
language : en
Publisher:
Release Date : 1992
A Business Guide To The Single Financial Market written by Commission of the European Communities and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Capital market categories.