VAT on financial activities: Valid acts and current interpretations

Who are the intended participants?

• Managers at financial institutions in charge of strategic tax management, VAT planning and other related areas.
• Tax specialists dealing with VAT application on financial products.
• Accounting and tax specialists ensuring or revising the VAT treatment of individual transactions.
• Brokers offering financial products.

Programme

• Banking operations, with focus on:
  • financing
  • transactions in receivables (credit portfolio transfers, factoring, etc.)
  • payment services
  • portfolio management
  • derivative transactions.
• Exempted insurance activities:
  • transfers of portfolio of insurance / reinsurance contracts
  • loss adjustment and assistance services.
• VAT in investment funds.
• Finance and operating leases with focus on changes in 2018 and 2019, in Czech legislation and EU case law.
• Outsourcing at financial institutions.
• Intermediation of financial and insurance products.
• Concept of deduction entitlement in financial institutions.
• Brief overview on deduction entitlement in holding structures – outline of possible solutions depending the holding entity’s involvement in management functions.
• Financial institutions and inter-company transactions:
  • cost-sharing in financial institutions
  • transfer prices and VAT
  • VAT group – benefits and pitfalls
  • recharging expenses.
• 2019 VAT amendment – VAT status of statutory bodies of limited liability companies and other selected issues.

The above topics will be covered focusing primarily on applying VAT in practice, with emphasis on basic principles of Czech legislation and EU case law.

Benefits

Participating in the course, you will:

• Gain assurance that the VAT treatment of your services is correct.
• Learn more about most recent interpretations and approaches to VAT exemptions of financial services.
• Become familiar with common products and services, as well as non-standard transactions that have been gaining ground in Czech market, inspired by abroad
• Get the opportunity to test your newly acquired knowledge on practical examples, and use this experience in practice.
• Be better prepared for changes that the 2019 VAT amendment will bring.

Register for two or more training sessions from the INTEREST programme for financial institutions and get a discount.

• Two sessions: 5% discount on the price of both sessions
• Three sessions: 10% discount on the price of all sessions
• Four or more sessions: 15% discount on the price of all sessions