VAT Refund Denied for Ferrari Purchase: Company Fails to Prove Vehicle Used for Rental Services

• A company requested a VAT refund of €61,000 for purchasing a Ferrari, claiming it was for car rental services.
• The tax authority denied the refund, stating the company failed to prove the car was used for VAT-liable activities.
• The company appealed, arguing the car was for business use and not for personal use by partners.
• The company had amended its business purpose to include car rental services and obtained the necessary operating license.
• The dispute centers on whether the Ferrari purchase qualifies as a business expense eligible for VAT refund.

Source: taxheaven.gr

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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