Experience

Stibbe advises on the EUR 1.5 billion Flemish school infrastructure renovation PPP project

Stibbe advises on the EUR 1.5 billion Flemish school infrastructure renovation PPP project

17.07.2006 BE law

Assisting PMV, an investment company of the Flemish government, on this highly-publicized, complex project, involving approximately 170 schools in the Flemish Region.

Although the financial documents were signed in June 2010, the project continued through 2011 and 2012. Tax aspects include very complex ruling applications regarding VAT treatment in general of certain types of PPP contracts and regarding which financial formula to use to determine the taxable base on which 21% VAT will be levied.

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