Financial activities in European VAT : a theoretical and legal research of the European VAT system and the actual and preferred treatment of financial activities

Resource Information

The work Financial activities in European VAT : a theoretical and legal research of the European VAT system and the actual and preferred treatment of financial activities represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Books.

Label

Financial activities in European VAT : a theoretical and legal research of the European VAT system and the actual and preferred treatment of financial activities

Creator

• Henkow, O

Subject

• VAT
• VAT exemption
• banking
• financial instrument
• ECJ case law
• place of supply (VAT)
• taxable event
• taxable person
• financial services

Language

eng

Summary

Conventional wisdom holds that taxing financial services under a transaction-based VAT system entails difficulties that render it impossible to tax the services. This work investigates where the difficulties lie. The research is undertaken using benchmarks, including the character of European VAT as an indirect tax on consumption expenditure and the specific features of financial activities. The various key VAT concepts (e.g., taxable person, taxable transactions, taxable amount) are researched in order to establish whether the inclusion of financial activities in the European VAT system entails specific difficulties from both a practical, legal point of view and from a theoretical point of view (in light of the benchmarks). The work concludes by describing and evaluating alternative treatments to an exemption of financial services, such as using both additive and cash-flow methods

Geographic coverage

• European Union
• Europe

Index

no index present

Language note

English

Literary form

non fiction

Series statement

EUCOTAX series on European taxation

Series volume

vol. 18