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VAT and Corporate Finance Fees

Robert Fais indirect tax specialist Baker and McKenzie finds that the recent ECJ case of EDM should make Customs' current view of share transfers untenable
One could be forgiven for thinking that only unacceptable VAT avoidance yielded increased VAT recovery. However a recent ECJ case (Empresa de Desenvolvimento Mineiro SGPS SA (EDM) C-77/01 [2004] All ER D 349 (Apr) has shown that there are times when this is merely the proper result of the EU VAT system.
Recovering input VAT
The VAT system recognises three types of input VAT scenarios for VAT recovery purposes:
(i)     'taxable' input VAT incurred solely in the course of supplying VATable goods or...

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