Mixed messages continue to emerge from the numerous VAT cases considering the issue of whether a business is acting as agent or principal. Complexity in this area arises not because of difficulty in interpreting the VAT legislation but rather as a result of the commercial and legal factors. A business taking the view it is a disclosed agent would be well advised to review its position unless it has certainty of being able to back this up with robust and supportive substance and form.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
Mixed messages continue to emerge from the numerous VAT cases considering the issue of whether a business is acting as agent or principal. Complexity in this area arises not because of difficulty in interpreting the VAT legislation but rather as a result of the commercial and legal factors. A business taking the view it is a disclosed agent would be well advised to review its position unless it has certainty of being able to back this up with robust and supportive substance and form.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: