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Vol 23 No 3 March/April 2018

Book of the Month

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Scamell and Gasztowicz on Land Covenants

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Immovable Property under VAT: A Comparative Global Analysis

ISBN13: 9789041131263
Published: May 2011
Publisher: Kluwer Law International
Country of Publication: The Netherlands
Format: Hardback
Price: £104.00

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The ideal value-added tax (VAT) would carry an economic efficiency ratio of 100 as, in theory, VAT should not be susceptible to exemptions and rate variations.

However, practical reality tells a different story, and it will come as no surprise to learn that the VAT systems of almost all countries remain far from the benchmark, and that this is particularly the case when VAT is applied to real estate.

This book describes and analyses VAT treatment of real estate transactions in six representative countries: Australia, Canada, Germany, Japan, Mexico, and the United Kingdom. As in any jurisdiction, the VAT schemes covered must accommodate complex factual matrices that demand consistent, fair, and equal treatment.

Among these VAT determinants the authors, each an expert in the national tax law of one of the six countries, address the following:-

  • types of real estate sales;
  • long versus short term leases;
  • commercial versus residential use;
  • newly constructed versus existing property;
  • status of the parties involved as taxable or non-taxable for VAT;
  • taxable and tax-free supplies;
  • special rules for charities, mooring facilities, aircraft, sports facilities, etc.;
  • subdivision of apartments into title units;
  • commercial residential premises;
  • construction work;
  • cross-border supply of construction work and services; and
  • transfer of a ‘going concern’.
The discussions also include the practical areas of accounting for VAT, administrative compliance, personal tax liability, and VAT refund and overpayment certification processes, as well as thorough consideration of relevant case law and examination of frequently litigated matters.

Each author has designed his or her chapter to ensure that the technical nuances of each system are explained. An introductory chapter outlines economic theory and preferred VAT treatment of real estate transactions, and compares the variety of solutions applied in the six countries covered. Although a number of legal works exist on real estate under VAT in single jurisdictions, this is the first book to combine a multi-jurisdictional approach with attention to relevant economic theory, allowing for a very useful assessment of best practices.

For this reason it is sure to be welcomed by practitioners and academics not only as an overview of the problem areas encountered when designing VAT policy, but also as a reference in applying VAT to real estate transactions.

List of Authors
List of Tables
List of Abbreviations
Preface and Acknowledgements
Chapter 1 Theory and Practice of VAT Treatment of Real Estate Robert F. van Brederode
Chapter 2 Australia Anthony Van Der Westhuysen
Chapter 3 Canada Benjamin Alarie and Pierre-Pascal Gendron
Chapter 4 Germany Joachim Englisch and Bettina Spilker
Chapter 5 Japan Satoshi Watanabe
Chapter 6 Mexico Carlos Martinez
Chapter 7 United Kingdom Martin Scammell
Table of Cases

Series: International Taxation

Customs Valuation and Transfer Pricing 2nd ed ISBN 9789041161345
Published November 2017
Kluwer Law International
Tax Sovereignty in the BEPS Era ISBN 9789041167071
Published June 2017
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The International Tax Law Concept of Dividend 2nd ed ISBN 9789041183941
Published June 2017
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Taxation and Migration ISBN 9789041161369
Published October 2015
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Taxation of Derivatives ISBN 9789041159779
Published August 2015
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The VAT/GST Treatment of Public Bodies ISBN 9789041146632
Published January 2013
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Science, Technology and Taxation ISBN 9789041131256
Published July 2012
Kluwer Law International
Transfer Pricing and the Arm's Length Principle in International Tax Law ISBN 9789041132703
Published September 2010
Kluwer Law International
Systems of General Sales Taxation: Theory, Policy and Practice ISBN 9789041128324
Published August 2009
Kluwer Law International
Taxpayers Rights: Theory, Origin and Implementation ISBN 9789041126504
Published September 2007
Kluwer Law International
Tax Treaty Law and EC Law ISBN 9789041126290
Published August 2007
Kluwer Law International
Tax Investment Incentives in Foreign Direct Investment ISBN 9789041122285
Published April 2004
Kluwer Law International
Customs Valuation and Transfer Pricing ISBN 9789041198884
Published December 2002
Kluwer Law International
International and Comparative Taxation: Essays in Honour of Klaus Vogel ISBN 9789041198419
Published September 2002
Kluwer Law International