- Updated VAT guidance clarifies that full or partial business transfers to a successor using goods/services for deductible purposes are not treated as sales and are not subject to VAT.
- The transferor and successor cannot decide themselves if the transfer is subject to or exempt from VAT.
- VAT is not applied if the transferor would pay VAT and the successor could deduct it.
- The transferor’s VAT rights and obligations on transferred goods/services pass to the successor.
- The new guidance is effective immediately and replaces previous guidance.
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.
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