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E-commerce: European Council adopts new rules for exchange of VAT payment data
The Council adopted on Feb 18, 2020 a set of rules to facilitate detection of tax fraud in cross-border e-commerce transactions. The new measures will
EU Member States warned on quick fixes for VAT delay
The European Commission issued letters of formal notice to twelve EU Member States for a delay in implementing the four VAT ‘quick fixes’ (which took
What is the impact of the 2021 VAT Import scheme on postal & express couriers?
As of January 1st, 2021, a new VAT collection scheme will be effective for parcel imports into the EU. This scheme may simplify the customs clearance process for parcel imports. On the
Large VAT Groups: new statistical reporting obligations to be taken into account
From 2020, additional statistical reporting obligations apply to members of a large VAT Group (which is being defined as a company with an annual turnover
European Parliament agrees with VAT exemption SME’s
The European Parliament voted on Wednesday Jan 15, 2020 by a large majority in favour of a simplification of the VAT rules for SMEs. Businesses
Are you ready for the VAT ‘quick fixes’ of 2020 ?
The EU VAT regime applicable to cross border supplies of goods is complex and insecure. It is due to undergo huge reforms over the next
New Incoterms 2020: what changes should you take into account?
On September 10th 2019, new Incoterms were published by the International Chamber of Commerce (ICC). Although the substance of the Incoterms has not changed considerably,
Romania reduces VAT rate for tourism industry
As from 1 November 2018 Romania reduces the VAT rate to 5% for: accommodation in the hotel sector or similar service sectors, including rental of
EU Council adopts several VAT measures
On 2 October 2018 the European Council adopted several changes to the VAT legislation. Quick Fixes A first directive will implement some short term quick