EU | COVID-19 and next steps for your VAT-registered business

By |June 25th, 2020|

EU Member States begin to end the state of emergency for COVID-19 and remove business VAT measures. Governments in Member States are ending the state of emergency for COVID-19, and in turn, removing tax measures and exemptions put in place to assist businesses through this global pandemic. COVID-19  and VAT [...]

EU | Consultation on Tour Operators Margin Scheme (TOMS)

By |June 25th, 2020|

The European Commission (EC) opens a public consultation on the evaluation of the Tour Operators Margin Scheme (TOMS). Also known as the special VAT scheme for travel agents. We would love to get your feedback on how the scheme affects you. TOMS is a simplified margin scheme for businesses that [...]

COVID-19 VAT measures introduced by EU tax authorities

By |June 24th, 2020|

Many countries are now withdrawing COVID-19 VAT reliefs. This includes VAT return filing and/or payments introduced in response to the COVID-19 crisis. While other nations are letting any reliefs expire.  If your business utilised any of these COVID-19 VAT measures, please get in touch to discuss what you need to [...]

EU | Member States introduce temporary reduced VAT rates in light of COVID-19

By |June 9th, 2020|

EU Member States are introducing a variety of VAT measures. These measures assist businesses in navigating their way through tough trading conditions brought about by the COVID-19 pandemic. However, more recently we are seeing Member States introducing temporary reduced VAT rates for goods and services within the hospitality and tourism [...]

EU | European Commission delays 2021 VAT e-commerce package and One Stop Shop (OSS)

By |May 12th, 2020|

The European Commission proposes to delay the 2021 VAT e-commerce package and OSS to July 2021. The European Commission has proposed that the implementation of the 2021 VAT e-commerce package, which was due to come into force on 1 January 2021, should be delayed until 1 July 2021 in light [...]

EU | New rules for Payment Services Providers to combat VAT fraud

By |March 13th, 2020|

The European Council (EC) adopted rules facilitating the detection of VAT fraud for Payment Services Providers. This is for cross-border e-commerce transactions and applies from January 2024. As noted in our story from 6 January 2020, the new measures include amendments to the VAT Directive. They requires Payment Services Providers [...]

EU | Simplified VAT regime for small businesses rules

By |March 11th, 2020|

The European Council (EC) adopted the simplified VAT rules for small businesses. As noted in our story from 6th January 2020, the purpose of the new rules is to reduce the administrative VAT burden and compliance costs for small enterprises and create an environment which assists those SMEs to grow [...]

EU | Commission gets set for One Stop Shop (OSS) introduction on 1 January 2021

By |March 5th, 2020|

The European Commission amended VAT regulations allowing Member States to ready themselves for the introduction of the One Stop Shop (OSS); set to launch on 1 January 2021. The Commission expanded VAT rates published on their web portal. Current Rules Under existing rules, Member States may publish on the EU’s [...]

EU | What do the new Quick Fixes rules for call-off stock mean for your business?

By |March 4th, 2020|

Call-off stock situations occur when: A supplier transports goods from one Member State (place of origin) to another Member State (place of destination); The supplier holds goods at a location in the place of destination; in addition to At the time of the transport of goods, the supplier already knows [...]

EU | Member States Warned on Quick Fixes for VAT Delay

By |February 14th, 2020|

The European Commission issued letters of formal notice to twelve EU Member States for a delay in implementing the four 'Quick Fixes' for VAT. In effect since the 1 January 2020, however the new rules were not enacted in local legislation by those States before that time. The ‘Quick Fixes’ [...]

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