In this case, a Hungarian taxpayer sought compensation for losses incurred due to the short-term money market credit interest rate applied under the “paid consideration condition” for refunds of excess deductible VAT. The taxpayer argued that these losses resulted from inflation that occurred between the reporting period and the refund of the interest. A Hungarian court sought a preliminary ruling to determine whether Hungary’s rules violated EU Directive 2006/112/EC, which governs the common VAT system.
Source: globalvatcompliance.com
Latest Posts in "European Union"
- CJEU Ruling: VAT Treatment of Transfer Pricing Adjustments Between EU Member State Companies
- CJEU Rules Intra-Group Payments Under Transactional Net Margin Method Subject to VAT
- European Commission launches three new CBAM Calls for Evidence
- Comments on ECJ C-726/23 (Arcomet) – VAT Applies to Transfer Pricing Adjustments, Clarifying Deduction Requirements
- EU Sugar Taxes: Diverse Approaches to Reducing Sugary Drink Consumption Across Member States
