Financial Services

International Bank

This bank is a leading custodian and lending bank. It operates throughout the world with significant establishments in the USA, India, Singapore, the UK, Ireland, Luxembourg, Switzerland, Spain and Italy. It provides a full range of financial services to businesses, pension funds, investment companies and private individuals.

How did Accordance help?

• We advised on partial exemption methods and recommended methods that give optimum, fair and reasonable VAT recovery;
• We advised on EU proposals for the VAT treatment of financial services;
• We analysed cross-border transactions to ensure VAT compliance and the avoidance of penalties. This is particularly important given the changes to the place of supply of cross-border services from 1st January 2010.