Trésorier/Treasurer magazine - N°90 - July/Aug/Sep 2015 - (Page 6)

Lux News Luxembourg Tax News LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE - N°90 - JULY / AUG / SEP 2015 Indirect Tax 6 VAT treatment of service charges Circular letter on VAT applicable to e-books On 16 April 2015, the Court of Justice of the European Union ruled in the Case C-42/14 that service charges (electricity, heating and water and refuse collection) provided by third-party suppliers for the tenant directly using those goods and services must be regarded as being supplied by the landlord where he has concluded agreements for the provision of those supplies and simply passes on the costs thereof to the tenant. The Court decided that the supplies of these goods and services have, in principle, to be regarded as being independent from the main renting service, hence to be assessed separately for VAT purposes, unless the elements of the transaction are so closely linked that they form, objectively, an indivisible economic supply which it would be artificial to split. In the absence of clear rules and considering the diversity in the practice existing in Luxembourg, this decision can have important impacts for landlords and tenants. Tax authorities have released Circular n°756bis of 16 March 2015, which abolishes Circular n°756 of 12 December 2011 providing for the application of the super-reduced VAT rate of 3% to e-books. With this new Circular, Luxembourg implements the judgment C-502/13 of the CJEU, since the latter held that e-books should be subject to the standard rate of VAT on the basis that e-books are electronically supplied services. Michel Lambion, Partner, Indirect Tax, EY Luxembourg Yannick Zeippen, Partner, Indirect Tax, EY Luxembourg Jacques Verschaffel, Executive Director, Indirect Tax, EY Luxembourg

Table of Contents for the Digital Edition of Trésorier/Treasurer magazine - N°90 - July/Aug/Sep 2015

Cover
Table of contents
EDITORIAL
FINANCIAL HIGHLIGHTS Luxembourg Tax News
INTERVIEW DataLog Finance
FOCUS
What do financial leaders around the world earn?
BIG DATA in treasury
Credit rating agencies in the line of fire?
FORUM
Hedge accounting: New standard, new challenges
Cyber Risk: Can Insurance be an Answer?
When FX Volatility hits your Corporate Earnings - How
Best to Manage your Currency Risk
Repo cash management - how it works in practice
20 ans de AXA IM, l’histoire continue
CORPORATE FINANCE
Time for more sophisticated corporate investment strategies
VAT electronic audit file: not too late to act, but no more time to lose
Focus sur l’actionnariat salarié
Struggling with cash forecasting? You are not alone
Coupling Delegation of Authority (DOA) with Bank Account Maagement (BAM)
15 MINUTES AVEC INTL FCStone
THE RISK OBSERVATORY
NEWS
LIFE BEYOND NUMBERS

Trésorier/Treasurer magazine - N°90 - July/Aug/Sep 2015