Commentary

BB/12B/05 VAT—clarification of the VAT position of share issues following the ECJ decision in Kretztechnik

Part V16 Forms and other HMRC material

BB/12B/05 VAT—clarification of the VAT position of share issues following the ECJ decision in Kretztechnik

BB/12B/05 VAT—clarification of the VAT position of share issues following the ECJ decision in Kretztechnik

Business Brief, Issue 12. 15 June 2005

This Business Brief article is an update on HM Revenue & Customs' position on the VAT treatment of share issues and subsequent input tax recovery, following the decision in Kretztechnik A.G. -v- Finanzamt Linz (Case C-465/03) (Part V11).

The decision

On 26 May 2005, the European Court of Justice (ECJ) gave its judgment in Kretztechnik (Part V11). The ECJ had been asked to rule upon whether or not a first issue of shares by a public limited company is a supply

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