Financial Services

Without own staff, no fixed establishment for VAT purposes in the case of let property

On June 3, 2021 the Court of Justice of the European Union (‘CJEU’) rendered judgment in the Titanium Ltd case (case no. C-931/19). The CJEU ruled that a foreign taxable person that does not have its own staff in situ in a Member State cannot have a fixed establishment for VAT purposes in that Member State either.

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CJEU’s K and DBKAG judgment: right to use software can qualify as VAT-exempt asset management

The fact that the right to use software can itself fall within the VAT exemption is a welcome clarification for Dutch practice in light of the increasingly automated asset management market.

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FS Tax Newsletter | June 2021

This is our third FS Tax Newsletter for the year, in which we have summarized the most recent tax-related developments of the last two months in the FS sector for you.

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CJEU: Member State registration ownership of vessel may levy insurance premium tax

This judgment is not only important for the insurance of seagoing vessels, for which an exemption applies in the Netherlands, but also for the insurance of other vessels, which are subject, as starting point, to 21% insurance premium tax in the Netherlands.

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FS Tax Newsletter | April 2021

Now that the winter has ended and the weather is slowly getting better, we are issuing our second FS Tax Newsletter for 2021. In this issue we summarize relevant developments that took place during February and March of this year.

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CJEU Q-GmbH: license to use an insurance product and any ancillary mediation subject to VAT

This judgment could put pressure on the Dutch practice, where a combination of mediation and other services closely related to insurance that are performed as a single supply are regarded as fully VAT-exempt.

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CJEU Danske Bank: VAT on services provided by a head office to a fixed establishment as a result of a VAT group

The Danske Bank judgment differs from Dutch practice. This judgment could have major implications for the VAT treatment of intra-group services, in particular if there is a limited VAT recovery right.

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FS Tax Newsletter | February 2021

We hope you had a great start to 2021. After wrapping up the first month of the year, in this edition of the Financial Services Tax Newsletter we would like to summarize the relevant developments that took place in December 2020 and January 2021.

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New policy statement on VAT fixed establishments

The policy statement, among other things, lays down the Dutch viewpoint on the concept of a fixed establishment and the VAT treatment of transactions between a head office and a fixed establishment.

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