On July 16, 2021 the Supreme Court rendered judgment on the deduction of interest on a loan to finance an acquisition by an investment fund. The Supreme Court ruled that the Amsterdam Court of Appeals had correctly held that the interest was non-deductible.
On Friday, July 9, 2021 the Supreme Court rendered judgment on the deduction of interest on a loan to finance an acquisition, in a case in which interest costs were also deductible in other countries due to hybrid elements in the group structure. The Supreme Court dismissed the appeal in cassation by the Deputy Minister of Finance.
This is the second edition of our Tax Update for the Shipping & Offshore sector for 2021. We are keen to keep you updated on national and international developments, diverse case law, bills and practical experience that are topical and relevant for the sector, so that you know what is going on.
The aim of this newsletter is to give you an easy-to-read overview of the latest tax updates in Africa. This month’s newsletter includes an update on the pending Petroleum Industry Bill 2020 in light of Nigeria’s present administration demonstrating strong commitment to passing this bill.
The new regulation is aimed at strengthening controls on a broader spectrum of evolving dual-use items (i.e. items which can be used for both civilian and military purposes) and the coordination between EU Member States to support the efficient enforcement of controls across the EU.
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.
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.
In practice, substantial (albeit not easily quantifiable) amounts in dividend tax are avoided via various forms of dividend stripping, which the Dutch tax authorities cannot properly combat with the current legal instruments. The consultation document contains six potential solutions and various general questions
Many tax teams spend the bulk of their time dealing with tax data — finding it, correcting it, reconciling it and formatting it for tax reporting and other compliance needs. But processes like these are under rising pressure as tax authorities demand more tax data, in greater detail, and ever closer to real time.
Now, advancing technologies offer tax teams opportunities take a powerful new approach to their tax data. With compliance by design, organizations can ensure their systems and data management solutions deliver tax data that’s right the first time.