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On December 9, 2015 the UK HM Revenue & Customs (HMRC) published a policy paper titled: “Corporation Tax: anti-hybrid rules”. Next to publishing the policy paper the UK Government also announces that on December 22, 2015 a series of examples illustrating the application of the hybrid mismatch rules will be published.
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On December 9, 2015 the UK HM Revenue & Customs (HMRC) published the following two policy papers with respect to large businesses:
· Tax administration: large businesses transparency strategy
· Tax administration: large business special measures regime
Read more: UK – HMRC publishes 2 very interesting policy papers with respect to large businesses
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On December 9, 2015 the HM Revenue & Customs opened a consultation titled: “VAT: Changes to the reduced rate of VAT for Energy Saving Materials”. The consultation runs from December 9, 2015 until February 3, 2016.
The consultation document describes the subject of the consultations as follows: “The UK was infracted by the European Commission (‘EC’) on its application of the reduced rate of VAT on energy saving materials (‘ESMs’) and subsequently lost its case in the Court of Justice of the European Union (‘CJEU’). The UK is required to comply with the CJEU’s judgment and amend the UK legislation that makes provision for the reduced rate for ESMs.”
Whereas the scope of the consultation is described as follows: “The purpose of this consultation is to receive comments as to whether or not the proposed legislation achieves its objective and whether the proposed implementation date is likely to cause any problems.”
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On December 9, 2015 the Austrian Ministry of Finance published a press release regarding the ECOFIN Meeting that took place on December 8, 2015. Majority of the press release regards the intended Financial Transaction Tax (FTT).
Read more: Austrian Minister of Finance gives a short status update on the Financial Transaction Tax
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On December 9, 2015 the Court of Justice of the European Union (CJEU) judged in Case C‑595/13 Staatssecretaris van Financiën versus Fiscale Eenheid X NV cs, (ECLI:EU:C:2015:801).
· Is Article 13B(d)(6) of the Sixth Directive to be interpreted as meaning that a company which has been set up by more than one investor for the sole purpose of investing the assembled assets in immovable property may be regarded as a special investment fund within the meaning of that provision?
· If the answer to Question 1 is in the affirmative: is Article 13B(d)(6) of the Sixth Directive to be interpreted as meaning that the term “management” also covers the actual management of the company’s immovable property, which the company has entrusted to a third party?
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