- The Austrian Federal Ministry of Finance posted a Federal Finance Court Decision on VAT treatment for sales of developed property.
- The taxpayer owned a property and obtained a building permit for four single-family homes.
- A civil partnership was formed to market the buildings for sale.
- The Tax Office assessed VAT on the taxpayer, who then appealed.
- The Federal Finance Court found that input VAT adjustments require a change within the same entrepreneur’s business.
- The taxpayer did not claim input VAT and did not meet the criteria for a change as he did not opt to become liable for tax.
Source: news.bloombergtax.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.
