Mergers and acquisitions (M&A)

Advocate General at CJEU: VAT deduction limitation for ‘setting aside’ capital raised in expectation of new investment

As a result of the corona crisis, setting an investment on hold and holding the capital raised for it may occur more frequently. If the capital is held in expectation of a new investment, we believe it is possible to avoid a VAT deduction limitation.

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Is VAT on professional services deductible if a share deal is unsuccessful?

On May 12, 2017 the Supreme Court of Ireland requested the Court of Justice of the European Union (CJEU) to render a preliminary ruling in the Ryanair case (C-249/17). The two questions posed to the CJEU concerned the deductibility of VAT on professional services. 

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Is VAT on services deductible in the case of the proposed sale of a participation if the sale ultimately does not proceed?

We recently informed you about the request for a preliminary ruling in the Ryanair case (C-249-17). That case, pending before the Court of Justice of the European Union (hereinafter: CJEU), concerns the question whether VAT on professional services is deductible if the proposed takeover of a participation is ultimately unsuccessful. 

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Advocate General: VAT on strategic acquisitions deductible

On May 3, 2018, Advocate General Kokott (hereinafter: AG Kokott) at the Court of Justice of the European Union (hereinafter: CJEU) issued her Opinion in the Ryanair case (C-249/17). The case concerned the deductibility of VAT on professional services. 

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Advocate General at CJEU: VAT recovery limitation when preparing sale of a participation

On September 6, 2018, Advocate General Kokott (hereinafter: AG Kokott or AG) at the Court of Justice of the European Union (hereinafter: CJEU) issued her Opinion in the C&D Foods case (C-502/17). The case concerns the recovery of VAT on professional expenses for a proposed but ultimately unrealized sale of shares. 

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CJEU: VAT recovery also permissible for unsuccessful acquisition

On October 17, 2018, the Court of Justice of the European Union (hereinafter: CJEU) rendered judgment in the Ryanair case (C-249/17). The case concerned the Irish airline Ryanair, which had incurred costs in respect of its attempt to acquire its competitor Aer Lingus. 

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CJEU: the purpose of the sale of shares may limit VAT recovery right

On November 8, 2018, the Court of Justice of the European Union (hereinafter: CJEU) rendered judgment in the C&D Foods case (C-502/17). The case concerned the recovery of VAT on costs related to a proposed, but ultimately not realized, sale of shares. 

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Dutch Supreme Court renders important judgment on costs related to the acquisition or disposal of participations

For Dutch corporate income tax purposes, the costs related to the acquisition or disposal of shares that are covered by the participation exemption are non-deductible. On December 7, 2018 the Dutch Supreme Court rendered judgment in a case specifically concerning the sale of a participation. 

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Insurance premium tax: CJEU decision on location of risk

On January 17, 2019, the Court of Justice of the European Union (‘CJEU’) rendered judgment in a case that dealt with the location of risk for insurance premium tax purposes (case no. C-74/18). The case concerned insurance policies for M&A transactions. 

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