VAT news tagged as "VAT reform"

Europe

EU to review VAT reforms

May 22nd, 2018

The EU’s meeting of members’ finance ministers, ECOFIN, will convene 24 and 25 May. In addition to reviewing the next seven-year EU budget, the meeting will also review several VAT reforms. These will include: Proposal for an experimental anti-VAT fraud general domestic reverse charge mechanism Reduced VAT rates for e-books to match the rates for published …


Europe

EU destination-based VAT reform hitch

April 16th, 2018

Progress on the EU’s ambitious proposals for a ‘Definitive VAT System’ by 2022, grounded on a leap to a destination-based VAT regime to combat fraud, is being delayed over a proposed exemption for large companies. The current rotating EU presidency is held by Bulgaria which had hoped for next-stage agreement by May. But this now looks likely …


Europe

EU VAT reform challenges

October 29th, 2017

On 4 October, the European Commission (EC) announced a fundamental reform of the EU VAT regime to help combat an estimated €50billion of annual VAT fraud. 3 major changes to the B2B EU VAT regime 2019 Introducing four ‘Quick Fixes’ to ameliorate the existing VAT regime on international B2B transactions, including: Harmonisation across the states …