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’ [...]

EU | Member States combat e-Commence VAT fraud with payment data

By |January 7th, 2020|

Last month the European Commission (EC) issued a statement concerning an agreement by EU Member States to improve the EU VAT system by requiring reporting of data with regard to online purchases. The initial proposals date back to December 2018. The EC tabled two legislative proposals concerning the transmission and [...]

EU | European Commission agrees simplified VAT rules for SMEs from 2025

By |January 6th, 2020|

The European Parliament recently commented on the European Commission's (EC) amended draft of proposals on a simplified VAT regime for SMEs.  The new SME VAT rules, coming into force by the beginning of 2025, are: A VAT Directive amendment to revise the rules on VAT exemption for small enterprises; in [...]

EU | VAT Mini One Stop Shop (MOSS) boosts VAT revenue collection

By |October 8th, 2019|

According to a recent European Commission (EC) publication, statistics show encouraging results with regard to the collection of VAT revenues under the VAT Mini One Stop Shop (MOSS) system. The EC introduced the MOSS system in 2015. First and foremost, it aimed to aid the collection and transmission of VAT [...]

EU | The ‘VAT Gap’ is closing but Member States still losing EUR 137 billion of VAT Revenues

By |September 18th, 2019|

Member States lost EUR 137 billion in VAT revenues in 2017, according to the VAT Gap study by the European Commission (EC) on 5 September 2019. The VAT Gap measures the effectiveness of VAT enforcement and compliance measures in each Member State. Most importantly, it provides an estimate of revenue [...]

EU | Tax Authorities Advised to Increase Auditing of MOSS Traders and Distance Sellers

By |September 12th, 2019|

EU tax authorities could increase auditing of MOSS traders and distance sellers following a reporting from the European Court of Auditors (ECA). On 16 July 2019, the ECA published its report on the vulnerability of E-commerce to evasion of VAT and customs duties. According to the report, many challenges in [...]

EU | European Union I Commission Publishes July Infringements Package

By |August 14th, 2019|

On 25th July 2019, the Commission published its monthly infringements package detailing the legal action it is pursuing against the Member States for breaches of EU law. Relating to VAT, the following infringement proceedings have been taken: Italy: referred to the CJEU for its failure to address an illegal system [...]

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