Missed Declaration Can't DQ VAT Deduction, EU Court Told
Law360 (May 21, 2021, 6:44 PM EDT) -- European Union states cannot bar taxpayers from deducting value-added tax from purchases just because they missed a deadline for declaring whether the purchase was a personal or business asset, an advocate general told the European Court of Justice.
Deducting input tax is vital to a value-added tax system, Advocate General Evgeni Tanchev said in an opinion Thursday in a pair of cases referred by the German Federal Fiscal Court. Depriving taxpayers of a deduction outside a statute of limitations is incompatible with European Union law, Tanchev said.
The two cases involved taxpayers who attempted to deduct the value-added input tax they had...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!