Quick Fixes: Short term improvements to the VAT system
With the purpose of modernising the current VAT system and avoid the cross – border fraud, in the last years, the EU Commission has been working in the proposal of amendments to the VAT Directive and the VAT Implementing Regulation for four different areas out of...
When the year comes to an end, it is time to review the input VAT deduction
The VAT system permits the deduction of input VAT for the acquisition of assets and / or services that VAT taxpayers use in their entrepreneurial activity. The deduction of input VAT can only be limited or excluded in the cases specifically foreseen in the Tax Laws....
VAT paid for football tickets or golf lessons is not tax deductible
Developing commercial relationships in environments different from the working center, such as sports or social clubs, is a common practice in business activities. These clubs facilitate an atmosphere of wellbeing and efficiency to companies and professionals, which...
The Spanish tax authorities criterion on VAT in Flexible Compensation Plans
The General Directorate of Taxes (GDT) from the Spanish Ministry of Finance has resolved, in its Binding Consultation 0366 – 19, of February 20, which has to be the VAT treatment in relation to Flexible Compensation Plans that companies grant to their employees....