EU's Top Court Pins VAT On JV Partner Who Assumed Risk

Law360 (September 16, 2020, 8:34 PM EDT) -- The partner in a joint venture who assumed the risk of the construction enterprise, and not the partner who merely invested in it, is liable for the venture's value-added tax, the European Court of Justice ruled Wednesday.

In a case referred by the Supreme Administrative Court of Lithuania, the European Union's highest court said the first partner in the venture, identified as "XT," assumed the risks of the transactions and was the only party identified with the joint venture's purpose of buying land and constructing buildings. The second partner did not, according to the ruling.

"As the [second] partner has not...

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