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Non-performing Loans: Federal Fiscal Court Submits Case to the ECJ regarding VAT Treatment
GSK Stockmann & Kollegen has released an update explaining a case involving the VAT treatment of nonperforming loans that the German Federal Fiscal Court referred to the European Court of Justice.
Executive Summary
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Federal Fiscal Court raises doubts regarding a taxable supply of the purchaser of non-performing receivables.
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Significant economic effects on input VAT refund
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Deviation from current administrative practice
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Case submitted to the ECJ
On 24 February 2010, the Federal Fiscal Court (FFC) published a ruling dated 10 December 2009 in which various
issues are addressed regarding the VAT treatment of the purchase of non-performing loans to the European Court
of Justice (ECJ).
For more information please visit www.gsk.de