Heikki Wahlroos, Henna Jovio and Anna-Riikka Nummi of our Finnish firm, Borenius, analyse a recent decision by Finland’s Supreme Administrative Court to overturn the Tax Adjustment Board and the Helsinki Administrative Court’s decisions regarding the right to deduct VAT for stock market listing costs.
The ruling confirms that the actual use and purpose of the acquired goods and services is the determining factor when deciding whether a taxable person is entitled to deduct VAT in relation to costs it has incurred. The proportion between new shares issued as part of the listing process and the amount of existing shares sold during the listing is not the determining factor for the VAT deduction right.
Source: taxand.com
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