- The General Court held that the EU VAT Directive blocks Austria from narrowing the non-supply principle for transfers of a totality of assets or part of one.
- Austria’s argument that the transfer was only asset management, not commercial leasing, was rejected.
- The Court said the non-supply principle must apply broadly to all qualifying transfers of assets, unless there is a valid justification for limiting it.
- The contribution of real estate by F R was not a supply of goods for consideration, partly because no extra shares were issued in return.
- However, it could be treated as a free withdrawal of goods or a non-business use, which may count as a supply for consideration under VAT rules.
Source: taxlive.nl
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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