- Piramal Healthcare UK Ltd imported pharmaceutical goods for processing, testing, or research purposes
- HMRC decided that Piramal was not entitled to any input tax recovery as it did not own the drugs
- The First-tier Tribunal rejected Piramal’s appeal, stating that import VAT could only be recovered if Piramal owned the goods
- The FTT disregarded arguments presented by Piramal regarding VAT on imports of goods belonging to others and regulations accepting the party claiming input tax need be described as importer or owner
- The FTT also largely disregarded guidelines issued by the EU VAT Committee
- The FTT dismissed Piramal’s appeal, with only a slight adjustment to the assessed period.
Source: taxscape.deloitte.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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