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Should the EU Adopt the Kiwi Approach for Taxing General Insurance Transactions?

Tucker, Lucy LU (2014) HARN60 20141
Department of Business Law
Abstract
This thesis primarily concerns the European Union (EU) value added tax (VAT) exemption for insurance transactions. Due to the negative consequences that exemptions have on the proper functioning of the VAT system and those subject to it, this thesis explores the possibility of adopting the Kiwi taxed approach for insurance transactions. In order to do this, the provisions and functioning of both the EU exemption and the Kiwi taxed system are analysed and compared. A discussion of how the Kiwi taxed system could alleviate the problems associated with the exemption is presented, alongside any complications and problems that are currently incorporated in the Kiwi system itself. In addition to the legal issues, practical difficulties that... (More)
This thesis primarily concerns the European Union (EU) value added tax (VAT) exemption for insurance transactions. Due to the negative consequences that exemptions have on the proper functioning of the VAT system and those subject to it, this thesis explores the possibility of adopting the Kiwi taxed approach for insurance transactions. In order to do this, the provisions and functioning of both the EU exemption and the Kiwi taxed system are analysed and compared. A discussion of how the Kiwi taxed system could alleviate the problems associated with the exemption is presented, alongside any complications and problems that are currently incorporated in the Kiwi system itself. In addition to the legal issues, practical difficulties that could arise in reality are also presented, as these are very relevant for a discussion on implementing a system change.

A conclusion is reached whereby the Kiwi system is put forward as a preferential model to be used in the EU, as it alleviates many of the core problems associated with the EU exemption. However, it is submitted that the Kiwi system should not be blindly followed and replicated in its entirety, but rather that the EU should take the opportunity to advance a taxed system which learns from and overcomes the problems of the Kiwi system. (Less)
Please use this url to cite or link to this publication:
author
Tucker, Lucy LU
supervisor
organization
course
HARN60 20141
year
type
H1 - Master's Degree (One Year)
subject
keywords
VAT, Tax, Insurance, New Zealand, EU, Exemption, Kiwi
language
English
id
4456280
date added to LUP
2014-06-16 16:34:14
date last changed
2014-06-16 16:34:14
@misc{4456280,
  abstract     = {{This thesis primarily concerns the European Union (EU) value added tax (VAT) exemption for insurance transactions. Due to the negative consequences that exemptions have on the proper functioning of the VAT system and those subject to it, this thesis explores the possibility of adopting the Kiwi taxed approach for insurance transactions. In order to do this, the provisions and functioning of both the EU exemption and the Kiwi taxed system are analysed and compared. A discussion of how the Kiwi taxed system could alleviate the problems associated with the exemption is presented, alongside any complications and problems that are currently incorporated in the Kiwi system itself. In addition to the legal issues, practical difficulties that could arise in reality are also presented, as these are very relevant for a discussion on implementing a system change. 

A conclusion is reached whereby the Kiwi system is put forward as a preferential model to be used in the EU, as it alleviates many of the core problems associated with the EU exemption. However, it is submitted that the Kiwi system should not be blindly followed and replicated in its entirety, but rather that the EU should take the opportunity to advance a taxed system which learns from and overcomes the problems of the Kiwi system.}},
  author       = {{Tucker, Lucy}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Should the EU Adopt the Kiwi Approach for Taxing General Insurance Transactions?}},
  year         = {{2014}},
}