VAT of the land
John, T.
VAT of the land - 2002 - Property Week 69(3) 25 January 2002, 34-35(2) .
Examines recent rulings by European Court of Justice affecting many rules regarding Value Added Tax. Cites recent cases of Mirror Group and Cantor Fitzgerald versus Custom and Excise Commissioners where the ruling by UK courts of inducement as automatically subject to VAT was challenged. Inducement when paid by a landlord to a prospective tenant for the tenant to enter into a lease was ruled not to subject to VAT, whereas when paid by a tenant to a third party (assignee) to accept the assignment of a lease (a reverse assignment) was ruled to be subject to VAT, when these rulings were taken to the European Court.
EUROPEAN COURT OF JUSTICE
HM CUSTOMS AND EXCISE
VALUE ADDED TAX
VALUE ADDED TAX
MIRROR GROUP PLC V CUSTOM AND EXCISE COMMISSIONERS
CANTOR FITZGERALD V CUSTOM AND EXCISE COMMISSIONERS
INDUCEMENTS
REVERSE SURRENDERS
REVERSE ASSIGNMENTS
LEASE INDUCEMENTS
VAT of the land - 2002 - Property Week 69(3) 25 January 2002, 34-35(2) .
Examines recent rulings by European Court of Justice affecting many rules regarding Value Added Tax. Cites recent cases of Mirror Group and Cantor Fitzgerald versus Custom and Excise Commissioners where the ruling by UK courts of inducement as automatically subject to VAT was challenged. Inducement when paid by a landlord to a prospective tenant for the tenant to enter into a lease was ruled not to subject to VAT, whereas when paid by a tenant to a third party (assignee) to accept the assignment of a lease (a reverse assignment) was ruled to be subject to VAT, when these rulings were taken to the European Court.
EUROPEAN COURT OF JUSTICE
HM CUSTOMS AND EXCISE
VALUE ADDED TAX
VALUE ADDED TAX
MIRROR GROUP PLC V CUSTOM AND EXCISE COMMISSIONERS
CANTOR FITZGERALD V CUSTOM AND EXCISE COMMISSIONERS
INDUCEMENTS
REVERSE SURRENDERS
REVERSE ASSIGNMENTS
LEASE INDUCEMENTS