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EU publishes details of DAC7 2023 digital platform reporting obligations

24 June 2022 in

DAC 7

Technical framework for exchange of marketplace transaction data exchanges to help tax authorities detect VAT fraud The European Commission has issued consultation details of technical data requirements for the Directive on Administration Cooperation DAC 7 which comes into force in January 2023. This seeks to

VAT cuts on energy & food as inflation hits record 8.1% in May 2022

24 June 2022 in

domestic gas and electricity

Eurozone energy inflation 39% May 2022; temporary VAT subsidies for domestic power, foods and other basics A fast-growing queue of European countries are emerging to cut their already reduced VAT rates on domestic energy, petrol and foods. Eurozone headline inflation hit 8.1% in May, up from

Single VAT registration in the EU – update

22 June 2022 in

Extension of OSS return for cross-border B2C and B2B goods and services transactions as part of VAT in the Digital Age reforms. 3 options for transfers of own goods challenge The European Commission (EC) is set to publish draft VAT Directive amendments by 7 December

EU review of VAT reforms under French Presidency

19 June 2022 in

EU VAT e-commerce package

As the six-month French Presidency of the Council of the EU ends, it reviews progress to date on a range of VAT measures France took up the rotating Presidency role on 1 January 2022, and has provided an update on various EU VAT reforms. The

EU VAT Expert Group reviews VAT in the Digital Age reforms

18 June 2022 in

Continuous Transaction Controls

Last round before proposals on: Single VAT registration in EU; Digital Reporting Requirements and e-invoices; and Platform Economy and VAT The European Commission’s VAT Expert Group (‘VEG’) reviewed this month a range of questions arising from the proposed VAT in the Digital Age reforms. Following

EU import VAT on returned goods – harmonising options

3 June 2022 in

EU VAT e-commerce package

Harmonising import VAT refunds on IOSS and Special Arrangements following 2021 EU e-commerce package Following the introduction of the new import VAT rules in the July 2021 e-commerce VAT package, the EU is looking to harmonise the treatment returned goods. This requirement for this has

EU addresses misuse of IOSS identification numbers in VAT fraud

31 May 2022 in

E-commerce package

Commission explores remedies for abuse of Import One Stop-Shop numbers to avoid import VAT payments The European Commission is looking at a number of ideas to stop the potential misuse of Import One Stop-Shop IOSS VAT numbers. This includes online sellers using others’ IOSS numbers

European energy, petrol, diesel & food VAT rate cuts on inflation crisis

28 May 2022 in

domestic gas and electricity

Eurozone energy inflation 38% April 2022; temporary VAT subsidies for domestic power, foods and other basics A fast-growing queue of European countries are emerging to cut their already reduced VAT rates on domestic energy, petrol and foods. Eurozone headline inflation hit 7.5% in April 2022, up

EU infringement procedures against UK on Northern Ireland Protocol VAT and customs failures

25 May 2022 in

Brexit

EU latest legal action against UK on failure to fully implement Northern Ireland Protocol: Import One-Stop-Shop e-commerce VAT return; customs checks of goods between NI and GB; and excise measures The European Commission has started four infringement procedures against the UK around the operation of

EU’s VAT One Stop-Shop €6.8 billion revenues in 6 months

24 May 2022 in

EU VAT e-commerce package

New distance selling single VAT filing figures highlight initial success The EU Directorate-General for Taxation confirmed new and updated revenues from the EU e-commerce package reforms introduced from 1 July 2021. This included new data on the Import One Stop-Shop regime, plus first numbers from

Category: EU