Amendment of VAT policy statement: broader application of asset management exemption
On November 2, 2021, the updated Specific State Supervision Policy Statement of the Deputy Minister of Finance was published. The updating of the original policy statement was necessary due to Supreme Court case law, which entailed a broader interpretation of specific state supervision than that in the earlier policy statement.
VAT policy statement on specific state supervision of investment funds
On April 1, 2019, the Deputy Minister of Finance (hereinafter: Deputy Minister) published the Specific State Supervision Policy Statement, effective April 2, 2019. In this policy statement the Deputy Minister elaborates on the qualification ‘specific state supervision’, which the Court of Justice of the European Union (hereinafter: CJEU) imposed as one of the conditions for applying the VAT exemption for the management of special investment funds (Article 135(1)(g) EU VAT Directive).
Supreme Court considers that Box 3 taxation is still contrary to the ECHR and drafts compensation scheme
The Supreme Court concluded that tax assessments must be reduced so that only the actual return is taxed in Box 3, and it also provides rules for determining the actual return.
Additional tax measures related to corona crisis announced
The government is introducing additional tax measures as a result of the corona crisis. By letter dated April 24, 2020 sent to the Lower House of Parliament, the Deputy Minister of Finance announced six measures, including the possibility to form a corona tax reserve that can be set off against the profit for the year 2019.
FS Tax Newsletter | May 2023
The summer holiday period is fast approaching and as this will be our last FS Tax Newsletter before the summer holidays begin. We would like to update you on the developments we have been monitoring over the past few months, so that you can start the summer well-informed.