This ruling means that notary offices that have earned positive interest income in the years 2017 up to and including the present run an additional assessment and penalty risk if they have fully deducted the VAT charged. In addition, if the interest income in a year amounts to more than 10% of the turnover, there may be a risk that the Tax and Customs Administration takes the position that the purchase or lease of a property has wrongly opted for a taxed delivery or taxed rent (including a possible claim from the seller or lessor for the resulting VAT review damage).
Source: btwinstituut.nl
Latest Posts in "Netherlands"
- Liability of Director for Payroll and VAT Debts: Valid Notification of Inability to Pay Disputed
- Pension Fund Not Classified as Investment Fund for VAT Exemption on Management Services
- VAT Zero Rate, Reverse Charge, Input Tax Deduction, and Penalty Dispute for Wholesale Trader 2018-2019
- Fiscal Unity X-Y: VAT Assessments, Penalties, and Organizational Cohesion Upheld by Dutch Courts
- Tax Relief Approved for Economic Ownership Transfer Before VAT Delivery of Building Land
