Parcel invoice and declaration rules following low-value consignments The EU e-commerce package and UK e-commerce VAT reforms impose the obligation on sellers and marketplaces to charge VAT in their checkouts for transactions not exceeding €150 or £135. This comes with the obligation to produce a
EU Finance Ministers agree reduced VAT rate freedoms at December ECOFIN; 2025 implementation deadline but states may proceed early 2022 A new proposal for more use of reduced VAT rates – including below 5% for the first time (in addition to existing 0% rate option)
Over 4,600 sellers had registered for IOSS at the start of October 2021 Update: the EU is proposing the €150 threshold for use of IOSS be withdrawn from 1 March 2028. We’re now a few months into the new IOSS pan-EU return regime, which enables
January 2020 four reforms to improve efficiency of B2B EU VAT regime Since 1 January 2020, the EU introduced four changes to EU B2B compliance system to help harmonise the rules and make cross-border trade easier. These were part of the 2016 VAT Action Plan,
Latest estimate on lost EU VAT shows €6.6bn shrinkage – but COVID-19 effect won’t show till next year The European Union member states are estimated to be losing €134 billion per annum in Value Added Tax revenues based on the European Commission’s (EC) latest ‘VAT
3 reforms: e-invoicing and digital reporting requirements (DRR); platform gig & sharing economies and e-commerce; and Single EU registration number – extension of OSS to all B2C and certain B2B The European Commission (EC) will shortly be initiating the next rounds of its ‘VAT in
Finance Ministers set to review finalised compromise text on reduced VAT rate freedoms at next week’s December ECOFIN meeting. July 2022 implementation still open Last week, VAT experts met to discuss a final compromise draft on giving EU member states more freedoms around setting reduced VAT
Finance Ministers set to review finalised text on reduced VAT rate freedoms at December ECOFIN meeting. July 2022 implementation still open Talks are advancing this week on giving EU member states more freedoms around setting reduced VAT rates on a wider ranges of goods and
The EU e-commerce VAT package launch on 1 July 2021 aimed to simplify Value Added Tax reporting for sellers, but also reduce fraud and give marketplaces a new role taking on VAT obligations of their sellers. The reforms implemented captured non-EU sellers and marketplaces selling to EU
Two new data requirements on country of origin and the recipient introduced from 1 January 2022 The EU’s reporting regime for the movement of goods between member states, Intrastat, is being updated on 1 January 2022. This will require the capture and reporting of extra
