VAT news tagged as "Skandia"


EU pushes for Skandia implementation

January 7th, 2017

The European Commission’s VAT Committee has called for a full imposition of the Skandia tax case. The European Court of Justice case considered whether EU transactions between a foreign bank branch and its headquarters should be including in VAT groupings. Currently, see table below, there are significant variations between member states. The VAT Committee’s recommendations …


EU adds VAT on banking and insurance financial services group charges

September 17th, 2014

The European Court of Justice (ECJ) ruled on 17 September 2014 in the Skandia America Corporation vs Swedish tax authorities case that recharges of bought-in costs or provided by financial services group companies to their branches and subsidiaries in other EU countries will be liable to a VAT charge.  Until this ruling, foreign subsidiaries were …