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Four ‘Quick Fixes’ for VAT

The new rules came into effect in the EU on 1st January 2020

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The EU Four VAT ‘Quick Fixes’ came into effect on January 1 2020, promising seismic change for cross-border trade throughout Europe. They’re designed to provide short-term solutions to a number of problems that exist under the current rules for intra-EU transactions. The rules are the first step in a series of reforms which will see moves towards greater harmonisation and streamlining of the EU’s VAT system.

The new rules impact:

  • Call-off stock
  • Chain transactions
  • Use of VAT numbers
  • Evidence to support intracommunity supplies

As a result, businesses involved with such transactions need to understand, plan and implement any changes they need to make. Firstly, businesses need to consider supply chains that may be affected; identify gaps between the rules they meet now and the new rules; and consider how to meet the new requirements.

In the Quick Guide to the Quick Fixes whitepaper, we outline what the four ‘Quick Fixes’ for VAT are and, more importantly, what they mean for your business.

We also devised a Quick Guide to the Quick Fixes webinar designed to guide your business through these impending legislative updates. In the webinar, our VAT experts provide insights in addition to providing practical advice on how to manage each of the changes.

Finally – check out our latest updates from each EU Member State, as they implement the rules, in addition to commentary from our VAT experts.

Making businesses feel at home in Europe is our raison d’être. Above all, we want you to continue to trade confidently cross border – so sit back and read the latest advice and analysis from our VAT experts.

Need more information on the Quick Fixes in 2020? Contact our VAT experts.