A strict test for economic reality: The concept of VAT supply in Airtours
In this article, the author discusses the UK Supreme Court decision in the Airtours case and the two-step test done by Judge Lord Neuberger focusing on identifying a contractual obligation to make a supply to the payor and only departing from this requirement if it would be in accordance with “econo...
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2024
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sg-smu-ink.sol_research-63932024-04-04T06:36:03Z A strict test for economic reality: The concept of VAT supply in Airtours OOI, Vincent In this article, the author discusses the UK Supreme Court decision in the Airtours case and the two-step test done by Judge Lord Neuberger focusing on identifying a contractual obligation to make a supply to the payor and only departing from this requirement if it would be in accordance with “economic reality”. The author submits that contract law can serve as a starting point, but that the focus on the existence of a contractual obligation in Airtours makes the test excessively restrictive. In the author’s view, “economic reality” in a multiple-party situation should not require the taxable person to prove “artificiality” or “sham”; and contract law and the contractual terms should not serve as a “strait-jacket” for VAT law. 2024-01-01T08:00:00Z text https://ink.library.smu.edu.sg/sol_research/4435 info:doi/10.59403/2k61ygh Research Collection Yong Pung How School Of Law eng Institutional Knowledge at Singapore Management University Business Organizations Law Taxation-Transnational |
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Business Organizations Law Taxation-Transnational |
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Business Organizations Law Taxation-Transnational OOI, Vincent A strict test for economic reality: The concept of VAT supply in Airtours |
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In this article, the author discusses the UK Supreme Court decision in the Airtours case and the two-step test done by Judge Lord Neuberger focusing on identifying a contractual obligation to make a supply to the payor and only departing from this requirement if it would be in accordance with “economic reality”. The author submits that contract law can serve as a starting point, but that the focus on the existence of a contractual obligation in Airtours makes the test excessively restrictive. In the author’s view, “economic reality” in a multiple-party situation should not require the taxable person to prove “artificiality” or “sham”; and contract law and the contractual terms should not serve as a “strait-jacket” for VAT law. |
| format |
text |
| author |
OOI, Vincent |
| author_facet |
OOI, Vincent |
| author_sort |
OOI, Vincent |
| title |
A strict test for economic reality: The concept of VAT supply in Airtours |
| title_short |
A strict test for economic reality: The concept of VAT supply in Airtours |
| title_full |
A strict test for economic reality: The concept of VAT supply in Airtours |
| title_fullStr |
A strict test for economic reality: The concept of VAT supply in Airtours |
| title_full_unstemmed |
A strict test for economic reality: The concept of VAT supply in Airtours |
| title_sort |
strict test for economic reality: the concept of vat supply in airtours |
| publisher |
Institutional Knowledge at Singapore Management University |
| publishDate |
2024 |
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https://ink.library.smu.edu.sg/sol_research/4435 |
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