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