The butterfly effect of the Spanish option for taxation

Journal
Author
Juan y Ledesma, A. de
Country
Spain
Published Date
Issue
International VAT Monitor 2004 (Volume 15), No. 4
FormatPDF
EUR
45
| USD
50 (VAT excl.)

Under the Sixth Directive, Member States may allow taxable persons to opt for taxation in respect of certain supplies of immovable property and, if they do, they may restrict the scope of this right. In this article, the author explains how the Spanish authorities introduced the "butterfly effect" when they restricted the scope of the option beyond the limitations applicable to European law.