- The Finnish Tax Administration clarified VAT liability for a jointly-owned forest.
- The forest could deduct input VAT on taxable timber sales but not on tax-exempt activities like real estate sales.
- An advance ruling was sought on VAT liability for sales of shares.
- Sales of shares were deemed securities transactions and tax-exempt financial services.
- VAT could not be deducted directly from costs of transferring shares.
- Costs of managing the forest were deductible as general expenses if used in taxable business activities.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
