This is the first edition of our new Tax Update for the Shipping & Offshore sector, in which we inform you about national and international developments, various court decisions, bills and practical experience relevant to the sector. Please use it to your advantage!
Shipping & Offshore Market Group
KPMG Meijburg & Co
On June 13, 2019, the Court of Justice of the European Union (‘CJEU’) rendered judgment in the IO case (no. C-420/18). This case concerns the VAT position of supervisory board members.
On February 26, 2019, the Court of Justice of the European Union (‘CJEU’) rendered two important judgments (on the anti-abuse rules in the Parent-Subsidiary Directive (PSD) and in the Interest and Royalties Directive (IRD), and on the beneficial ownership concept in the IRD (hereinafter: the February 26 judgments: pdf below this article).
On June 17, 2019, the Deputy Minister of Finance launched an internet consultation on an options document essentially containing four possible solutions for a new corporate income tax group rule. Interest groups, businesses, advisors, academics and other stakeholders are invited to submit a response. The consultation includes nine explicit questions that are linked to the possible solutions. The consultation procedure will end on July 29, 2019.
On June 20, 2019, the Court of Justice of the European Union (CJEU) rendered its judgment in the Oribalt Rīga (C-1/18) case on the factors relevant to calculating the customs value in accordance with the deductive method of Article 30(2)(b) of the Community Customs Code (CCC), in the special context of the customs valuation of imported medicines.
This is the second edition of our new Tax Update for the Shipping & Offshore sector, in which we inform you about national and international developments, various court decisions, bills and practical experience, which are both current and relevant to the sector. Please use it to your advantage!
On June 28, 2019, the Deputy Minister of Finance published a policy statement elaborating on the revised ruling policy for rulings with an international character (hereinafter: international rulings). This policy statement replaces three previous ruling policy statements (dated June 3, 2014) and took effect on July 1, 2019.
On Sunday, June 30, 2019, the EU and Vietnam signed the Free Trade Agreement (FTA) and the Investment Protection Agreement (IPA) in Hanoi. The EU has described the FTA as the “most ambitious” free trade deal ever concluded by the EU with a developing country.
On July 2, 2019, the bill to implement the amendment to the EU Anti-Tax Avoidance Directive (ATAD2) was presented to the Lower House. As a result of this amendment, the Directive now combats both hybrid mismatches among EU Member States and between EU Member States and third countries.
On July 3, 2019, the Court of Justice of the European Union (‘CJEU’) rendered judgment in the University of Cambridge case (C‑316/18). This case concerns the VAT recovery right of a university that collects gifts and donations and subsequently invests them in order to use the proceeds to finance part of its business activities.