TFL Vsebine / Revija SIR*IUS

Value added tax in case of share deal

Prodaja oz. nakup podjetij je pomemben instrument za rast ali reorganizacijo podjetij v vseh fazah gospodarskega cikla. Na voljo sta dva glavna načina transakcij, in sicer prenos poslovnega deleža oz. delnic (share deal) in prenos poslovnih sredstev (asset deal). V prispevku so obravnavane DDV-jeve implikacije pri transakcijah "share deal". Direktiva o DDV-ju predvideva oprostitev, vendar sodna praksa Sodišča EU pokaže kompleksnejšo sliko. Te transakcije lahko predstavljajo neobdavčljiv ali obdavčljiv promet, v skladu s tem pa je pomemben vidik odbitka DDV-ja od transakcijskih stroškov in morebitne vključitve tega prometa v odbitni delež. Poseben izziv predstavlja odbitek DDV-ja pri t. i. holdinških družbah.

Sale and acquisition of companies is an important instrument for business growth or reorganization in all stages of the economic cycle. Two main types of transactions are available, namely the transfer of business interest or shares ("share deal") and the transfer of assets ("assets deal"). This paper addresses VAT implications of share deal transactions. The VAT Directive provides for an exemption, but the case law of the EU Court of Justice shows a more complex picture. Such transactions may be either non-taxable or taxable, and accordingly an important aspect is the deduction of input VAT from transaction costs and the possible inclusion of these transactions into the pro-rata calculation. A special challenge is the deduction of input VAT in case of holding companies.