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THE SUPREME COURT OF RUSSIA: A PURCHASE FROM BANKRUPT DOES NOT DEPRIVE OF A RIGHT TO DEDUCE VAT

... The supervisory authority referred to subparagraph 15 of part 2 of the article 146 of the Tax Code of the Russian Federation, according to which transactions involving the sale of property of an insolvent debtor cannot be recognized as an object of VAT. The result was the accrual of fines and penalties for the organization. The company decided to challenge the decision in court, but the courts of three instances took the side of the inspection. The judges indicated that at the time of the conclusion of the contract, the counterparty knew that bankruptcy proceedings had been opened against the seller of the goods. The Economic ...

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