The International VAT Association (IVA), represented by its President, Stephen Dale, and Board Member, Fátima Gouveia, met with the representatives of the Portuguese Secretary of State for Tax Affairs and of the Portuguese VAT Authority on the 9th of July 2019, in Lisbon. The IVA thanked the authorities for meeting with us at short notice.
Some concerns currently exist as to the practical application of the Quick Fixes. However, it may be several weeks until the expected administrative circular is published by the Federal Ministry of Finance. The Explanatory Notes published on 20.12.2019, now also...
Commission plans to evaluate VAT rules for travel agents
The European Commission intends to evaluate the effectiveness of the current special VAT rules for travel agents; including the so-called margin scheme. A public consultation will be launched on the topic in March. Should the evaluation process demonstrate the need for reform, the Commission may propose amendments to existing rules.
EU could use carbon border tax against Brexit Britain, warns MEP
The Chair of the European Parliament’s ENVI Committee, Pascal Canfin (RE/France) has suggested that the EU could use the planned carbon border tax (CBT) against the UK after Brexit. He argues that deploying the CBT against the UK might be necessary if the country’s environmental standards do not match those of the EU’s, thus risking leaving European businesses at an unfair disadvantage.
The European Commission is currently conducting a feasibility study on the CBT, the results and conclusions of which should not be expected before end-2020 at earliest.
US threatens retaliation against EU over carbon tax
As things are starting to calm down between France and the US in their clash over the French digital tax, a new trade war and tax front may be opening.
The Trump administration has warned that a prospective EU carbon border tax (CBT) could be met by trade sanctions by the US. CBT’s purpose is to protect European businesses from competition from third countries whose environmental standards do not meet the EU’s.
The European Commission is expected to publish further details on its thinking and approach to CBT towards the end of this year.
Disclaimer: The information contained in the present page is general and does not constitute legal advice. Before taking any decision or action on the above information you should take the appropriate professional advice.