Trust with Autonomous Relevance for VAT: Implications of Asset Transfer to Trust

• The National Council of Notaries has examined the effects of establishing a trust for VAT purposes.
• The interpretation aims to fill the absence of a comprehensive position from the tax administration.
• The tax agency has stated that a resident trust must have its own tax code and, if engaged in commercial activities, its own VAT number.
• The relevance of trust assets for VAT purposes depends on whether the assets are related to the business or personal in nature.
• Transferring business assets to a trust satisfies the VAT requirement, as it constitutes a transfer of assets for purposes unrelated to the business.
• One scenario considered is the transfer of a business complex to a trust.

Source: eutekne.info

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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