VAT news tagged as "ECOFIN"


EU agrees reduced VAT on e-books, quick fixes and domestic reverse charge

October 2nd, 2018

European finance ministers today, 2 October 2018, agreed to allow member states to lower the VAT rates on electronic books and online newspaper subscriptions to the same nil / reduced rates as their paper equivalents. At today’s minister’s regular meeting, ECOFIN, in Luxembourg, they also agreed to three further measures: a trial of the anti-VAT fraud …


EU ECOFIN VAT reforms update

June 23rd, 2018

On 22 June 2018, the European Union’s monthly meeting of finance ministers, ECOFIN, discussed three EU VAT reform issues: 1 Free exchange of information There was political agreement on new tools to close the €50billion VAT fraud gap. These tools facilitate the free exchange of information between member states to aid co-operation. This includes: Improvements …


EU fails to agree fraud general VAT reverse charge

May 29th, 2018

At Friday’s EU meeting of the finance minister, ECOFIN, member states failed again to agree on a generalized reverse charge to combat carousel VAT fraud. The proposal was last discussed at ECOFIN in June 2017, and no agreement was reached. The mechanism, which zero rates VAT on domestic transactions above €10,000, was championed by the Czech …


EU delay admin cooperation on VAT fraud

May 28th, 2018

The regular meeting of EU finance ministers, ECOFIN, on Friday delayed the adoption of administration co-operation and information exchange in fighting Value Added Tax. This also added law enforcement amendments, with the co-operation of Interpol France requested further time to reach a compromise on how tax officers from one country would work in the jurisdiction of …


EU fails to agree again e-book reduced VAT

May 25th, 2018

At today’s EU meeting of finance ministers, ECOFIN, member states failed again to agree to allow the reduced or nil VAT rates on electronic books and publications. The proposal was last discussed at ECOFIN in June 2017, and no progress was made. The Czech representation again blocked the measure.  Its position was linked to other …


EU ministers agree VAT e-commerce reforms

December 5th, 2017

At today’s meeting of EU Finance Ministers (ECOFIN) agreement was reached on a serious of e-commerce VAT reforms.  The proposals are aimed at facilitating the collection of VAT when consumers buy goods and services online. In addition, they will help combat an estimated €5billion in distance selling VAT fraud. The reforms include: 2019 – simplifications for sales …


Germany stalls €7billion EU VAT e-commerce package

November 7th, 2017

Today’s monthly meeting of EU Finance Ministers, ECOFIN, failed to reach agreement on a proposed €7billion VAT E-commerce Package.  This included a plan to make the major international platforms (e.g. Amazon and eBay) potentially liable for VAT fraud by non-EU Sellers. The Package aims to boost member states’ tax receipts by an estimated €7 billion by …


EU fails to agree on VAT General Reverse Charge

June 19th, 2017

The most recent meeting of EU Finance Ministers (ECOFIN) on 16 June failed to agree on the implementation of the voluntary General Reverse Charge (GRC) to fight VAT fraud. The GRC, promoted by the Czech Republic and other central European member states, was the latest strategy to attempt to combat the estimate €50billion ‘missing trader’ …