Indirect Tax Matters

June Edition

In this edition of Indirect Tax Matters, we provide you with Deloitte commentary on topical Indirect Tax issues which we hope you find insightful. Included this month are two articles on immovable property related issues. The first is a summary of the key differences between a ‘licence’ and a ‘letting’ of immoveable property and the second article considers if it is the purchaser or vendor who should consider the VAT consequences of a property sale.

We also provide an overview of the topical issue of ‘Cryptocurrencies’ from a VAT perspective and highlight impending changes to EU VAT being introduced in 2019 on telecommunications, broadcasting and electronic (TBE) services.
Our article on unrecovered VAT costs incurred on any aborted or failed M&A activity highlights a call to act now to preserve a potential VAT refund opportunity.

Our regular update on recent decisions in Irish and EU VAT cases is again included. We also note and comment on recent updates issued from the Irish Revenue Commissioners on VAT and Relevant Contracts Tax (RCT) matters.

Our Indirect Tax team are acutely aware of the complex issues challenging businesses domestically and globally. Indirect Tax Matters is designed to provide insights to assist you in meeting those ever evolving challenges.

1. Letting v Licence: Different but (can be) the same for VAT Purposes.

Donal Kennedy explains why the VAT treatment of lettings and licences can give rise to difficulties as these concepts can infer quite different things under landlord and tenant law compared to VAT law, what to watch for and how to manage.

2. Cryptocurrency - What's VAT got to do with it?

While people continue to hear about and become interested in cryptocurrencies Conor Walsh asks the obvious question - what are they and what, if any, are the VAT considerations associated with them?

3. VAT on Property – caveat emptor?

Property transactions are notoriously complex from a VAT perspective, in this article John Stewart puts this in context – is caveat emptor sufficient?

4. VAT changes impacting the Telecommunication, Broadcasting and Electronic services industry

Christopher Connolly provides an overview of compliance changes affecting TBE services which come into force in 2019. Now is the time to prepare.

5. Costs in aborted or failed M&A – have you considered reclaiming the VAT incurred?

Has a considerable amount of VAT been paid on professional fees relating to failed M&A activity and not been reclaimed? Ciara McMullin provides detail on the potential opportunity for substantial VAT refunds as a result of the Ryanair case.

6. Recent Irish and Court of Justice of the European Union Cases

Learn how CJEU cases could potentially impact your business with our brief synapsis of some of the more recent decisions.

7. Our view on recent updates from Irish Revenue and EU Commission

Discover our insights as we reflect on ‘ebriefs’ and guidance notes issued by the Irish Revenue Commissioners on Indirect Tax issues.

Did you find this useful?