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On November 11, 2016 the Swiss Federal Department of Finance issued a press release announcing that the Swiss – Austrian Agreement on cooperation in the fields of taxation and the financial market (Withholding tax agreement) is to be terminated as per January 1, 2017. As per that same date, the agreement between Switzerland and the EU on the automatic exchange of information in tax matters will enter into force. In the same press release it is announced that on November 11, 2016 Switzerland and Austria signed a corresponding agreement in Bern to ensure a smooth transition between the two models.
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On November 10, 2016 on the website of the Court of Justice of the European Union (CJEU) the opinion of Advocate General Bobek in Case C‑564/15, Tibor Farkas versus Nemzeti Adó- és Vámhivatal Dél-alföldi Regionális Adó Főigazgatósága (ECLI:EU:C:2016:864) was published.
Mr Farkas (the ‘Applicant’) bought a mobile hangar from an insolvent company (the ‘Seller’) at an auction. The Applicant paid the sale price as well as the amount of VAT charged by the Seller on that supply. Subsequently, he sought to have this amount deducted in his VAT returns. However, the tax authorities indicated that the transaction should have been subjected to the reverse charge mechanism. Under that mechanism the Applicant was obliged to pay that VAT to the authorities. The tax authorities therefore requested that payment and, in addition, fined the Applicant in the amount of 50% of the VAT due.
The referring court asks the Court of Justice whether such decisions of the tax authorities comply with Directive 2006/112/EC (the ‘VAT Directive’).
However, before any such assessment can be made, a preliminary issue needs to be addressed first. That preliminary issue, incidentally opened by the questions posed by the referring court, relates to the proper implementation of Article 199(1)(g) of the VAT Directive and the classification of the supply in this case as movable or immovable property.
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On November 10, 2016 the Court of Justice of the European Union (CJEU) judged in Case C-432/15, Odvolací finanční ředitelství versus Pavlína Baštová (ECLI:EU:C:2016:855).
This request for a preliminary ruling concerns the interpretation of Article 2(1)(c) and Article 98 of Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax (OJ 2006 L 347, p. 1) (the ‘VAT Directive’) and of point 14 of Annex III thereto.
The request has been made in proceedings between the Odvolací finanční ředitelství (Appellate Tax Directorate, Czech Republic) and Ms Pavlína Baštová regarding the imposition of value added tax (VAT) on her operation of racing stables.
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On November 10, 2016 the European Commission opened a public consultation aimed at gathering views on whether there is a need for EU action aimed at introducing more effective disincentives for intermediaries engaged in operations that facilitate tax evasion and tax avoidance. And in case there is, how these should be designed.
The consultation wants to gather views in particular on the following:
· Need for EU action;
· The different options identified, in case EU action is appropriate;
· The key design features of a possible disclosure regime.
The period of consultation runs from November 10, 2016 to February 16, 2017.
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On November 8, 2016 the Inland Revenue Authority of Singapore announced that the Competent Authorities of Singapore and Italy concluded an Agreement on the Automatic Exchange of Financial Account Information to Improve International Tax Compliance (Hereafter: The Agreement). The Agreement was signed on November 3, 2016.
Singapore and the Italy will commence the Automatic Exchange of Information under the CRS by September 2018. The first year for which information will be exchanged under the Agreement is 2017.
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