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Arbitrage Chris Colford . 17 February 2011. Germany. United Kingdom. finance lease, not quite an HP agreement. Lessor RBS GmbH. Lessee Vinci Plc. lease covered company cars located in the UK. RBS Deutschland Holdings GmbH (C-277/09). A VAT advantage arises because . . .

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Arbitrage chris colford

ArbitrageChris Colford

17 February 2011


Rbs deutschland holdings gmbh c 277 09

Germany

United Kingdom

finance lease, not quite an HP agreement

Lessor

RBS GmbH

Lessee

Vinci Plc

lease covered company cars located in the UK

RBS Deutschland Holdings GmbH (C-277/09)


A vat advantage arises because
A VAT advantage arises because . . .

  • EU rules granting taxing rights to member states (simplified):

    • goods are taxed where they are located at the time they are supplied; but

    • (until 1 January 2010) services default to being taxed where the supplier is located

  • Leases normally give rise to supplies of services

  • But HP agreements are treated as sales of goods (plus a provision of credit)

  • Germany’s definition of HP agreement differed from the UK definition

  • Possible to design a lease which Germany would see as goods (taxable in the UK) but the UK would see as services (taxable in Germany)


Mirror image of rbs deutschland holdings gmbh

United Kingdom

Germany

finance lease, not quite an HP agreement

Lessor

Lessee

lease covers company cars located in Germany

Mirror image of RBS Deutschland Holdings GmbH


Deliberately vague direct tax example i am a vat specialist

Other jurisdiction

United Kingdom

payment is deductible (left) but treated as

Payer

Recipient of payment

capital contribution (right) and so not taxed as income

Deliberately vague direct tax example (I am a VAT specialist!)


Mirror image of direct tax example

United Kingdom

Other jurisdiction

? payment is not deductible (left) because capital contribution

Payer

Recipient of payment

? and is taxed as income (right)

Mirror image of direct tax example


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