EU ADVOCATE GENERAL: VAT ON TAKEOVER COSTS SHOULD BE DEDUCTIBLE

Out-Law reported that Ryanair should be able to deduct the VAT chargeable on costs it incurred in the context of its failed takeover bid for rival Aer Lingus in 2006, according to an EU legal adviser, the Advocate General.  The European Court of Justice is not bound to accept the advice of its adviser.  However, the opinion “clearly focuses on the economic reality of the situation”, according to tax expert Jamie Robson of Pinsent Masons, the law firm behind Out-Law.com.

https://www.out-law.com/en/articles/2018/may/advocate-general-vat-takeover-costs-deductible/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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