The Resource Morgan Stanley judgment : the emergence of transnational VAT pro rata calculations
Morgan Stanley judgment : the emergence of transnational VAT pro rata calculations
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The item Morgan Stanley judgment : the emergence of transnational VAT pro rata calculations represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.This item is available to borrow from 1 library branch.
Resource Information
The item Morgan Stanley judgment : the emergence of transnational VAT pro rata calculations represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.
This item is available to borrow from 1 library branch.
- Summary
- The lack of legal clarity regarding VAT recovery and deductible proportion rules applicable to a branch providing support services to its overseas head-office has led to the application of different deduction methods across the European Union (EU). On 24 January 2019, the Court of Justice of the European Union (CJEU) released a long-awaited judgment in Morgan Stanley & Co International plc (Morgan Stanley) (C-165/17). The Court opined that the French branch of a Morgan Stanley entity with its head-office in the United Kingdom should use two pro rata calculations to recover French VAT incurred. One regarding expenditure exclusively used to support of its head-office's mixed supplies, and a second, on general costs used to support both establishment's supplies. The significance of this judgment should not be overlooked for taxable persons active in the insurance, financial and other exempt sectors and established in more than one Member State. In this article, the author considers previous CJEU's judgments that have contributed to shape the issue of deductible proportion in cross-border scenarios, analyses the Morgan Stanley judgment and addresses theoretical and practical difficulties that arise
- Language
- eng
- Label
- Morgan Stanley judgment : the emergence of transnational VAT pro rata calculations
- Title
- Morgan Stanley judgment : the emergence of transnational VAT pro rata calculations
- Language
- eng
- Summary
- The lack of legal clarity regarding VAT recovery and deductible proportion rules applicable to a branch providing support services to its overseas head-office has led to the application of different deduction methods across the European Union (EU). On 24 January 2019, the Court of Justice of the European Union (CJEU) released a long-awaited judgment in Morgan Stanley & Co International plc (Morgan Stanley) (C-165/17). The Court opined that the French branch of a Morgan Stanley entity with its head-office in the United Kingdom should use two pro rata calculations to recover French VAT incurred. One regarding expenditure exclusively used to support of its head-office's mixed supplies, and a second, on general costs used to support both establishment's supplies. The significance of this judgment should not be overlooked for taxable persons active in the insurance, financial and other exempt sectors and established in more than one Member State. In this article, the author considers previous CJEU's judgments that have contributed to shape the issue of deductible proportion in cross-border scenarios, analyses the Morgan Stanley judgment and addresses theoretical and practical difficulties that arise
- Citation source
- In: EC tax review. - Alphen aan den Rijn. - Vol. 28 (2019), no. 3; p. 150-163
- http://library.link/vocab/creatorName
- Gamito, P
- Geographic coverage
- European Union
- Language note
- English
- http://library.link/vocab/subjectName
-
- ECJ case law
- VAT deduction
- branch
- intra-group services
- pro rata rule
- Label
- Morgan Stanley judgment : the emergence of transnational VAT pro rata calculations
- Label
- Morgan Stanley judgment : the emergence of transnational VAT pro rata calculations
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/Morgan-Stanley-judgment--the-emergence-of/gFDAxxtPOMw/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/Morgan-Stanley-judgment--the-emergence-of/gFDAxxtPOMw/">Morgan Stanley judgment : the emergence of transnational VAT pro rata calculations</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="https://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
