Transfer of Business
17/04/1985
Query
Disposal of a hotel to a partnership of 85 investors on whose behalf a holding company was set up as agent. A separate company was to run the hotel.
Decision
In the circumstances of this case, Revenue accepted that Section 3(5)(b)(iii) was applied to the disposal. This acceptance was subject to confirmation that the company running the hotel would take responsibility for VAT on behalf of the various investors involved.
Value Added Tax
Section 3 (5)(b)(iii), Value Added Tax Act, 1972
Origin: Indirect Taxes Policy and Legislation
File ref:A/402
30/11/1995
Query
In the context of a multi-national group of companies all of which were owned directly or indirectly by a parent company, a transfer of a business took place between three companies at the same time, the intermediary one of which was not registered in the State.
Decision
In the circumstances of this case, Revenue accepted that the fact that the intermediary company was not VAT-registered in this State, did not preclude the application of a VAT free transfer under Section 3(5)(b)(iii).
Value Added Tax
Section 3 (5)(b)(iii), Value Added Tax Act, 1972
Origin: Indirect Taxes Policy and Legislation
File ref:A/402 (a)