With the Future Financing Act that has now been passed, the legislator extends the VAT exemption for fund management to all Alternative Investment Funds. The change in law will take effect as early as 1 January 2024. Therefore, all parties concerned must adapt quickly. Our latest Newsletter provides an overview of the new legal situation and its key implications, particularly for fund managers.
The ECJ has ruled that promotional gifts (tablets/smartphones) for magazine subscriptions for new customers with a short-term cancellation option constitute a single supply rather than a supply carried out free of charge, if they comply with two criteria. The promotional gift is therefore subject to the reduced VAT rate applicable for the main supply of magazines. The taxable person is not required to split the consideration for the magazine subscription.
Rarely does a week go by without new announcements being made on the introduction of a national e-invoicing obligation and an associated transactional reporting system within the EU. Member States are increasingly working on the introduction of national e-invoicing obligations and the "VAT in the Digital Age" (ViDA) initiative seems to be gaining more momentum. Discussions about the details of the e-invoicing obligation in Germany are also intensifying. You will find a brief overview of the current developments in our newsletter.