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Abstract from the IVA Newsletter - December 2017:

Dear VAT professionals,

In this issue:

1. Register for the IVA Spring Conference in May 2018
2. Welcome to our latest IVA Member
3. Important VAT/GST Information
3.1. ECOFIN reach an agreement on E-Commerce VAT regime reform
3.2. Germany – ECJ: Postal address on invoice is sufficient
3.3. UK – To extend the scope of joint & several VAT liability for online marketplaces
4. European VAT News
5. World VAT/GST News
6. News from Accountancy Europe

1. Register for the IVA Spring Conference in May 2018

Dates: 17th and 18th May 2018

Main topic: “Fundamental Reform of the European VAT System - VAT in a new era”

Registration for the conference:

Please register for the conference at: IVANice@hoteldesk.co.uk

If you have any questions regarding the conference please contact us at: info@vatassociation.org.


3. Important VAT/GST Information

3.1. ECOFIN reach an agreement on E-Commerce VAT regime reform

The EU’s Economic and Financial Affairs Council (ECOFIN), which is a council consisting of economic and finance ministers from all EU member states that are responsible for setting economic and taxation policies within the EU, reached an agreement on the proposed 2022 E-Commerce VAT regime reforms.

On 5 December 2017, the Council adopted new rules making it easier for online businesses to comply with VAT obligations.

Part of the EU's 'digital single market' strategy, the proposals are aimed at facilitating the collection of VAT when consumers buy goods and services online.

3.3. UK – To extend the scope of joint & several VAT liability for online marketplaces

The UK government has confirmed that from 30 June 2018, in an effort to prevent VAT fraud all UK-based businesses that are involved with fulfilling orders of imported goods for third party businesses will need to apply to join a new approved fulfilment house register.

The new scheme will require all affected businesses to register if they store goods that are:

  • Imported from a country outside the EU
  • Owned by, or stored on behalf of, someone established outside the EU
  • Offered for sale and haven’t been sold in the UK before
  • If they store any of the above mentioned goods for longer than 24 hours.

This could mean that businesses who only import the goods or transport the imported goods to and from fulfilment houses are also affected.

4. European VAT News

Belarus

Belarus is set to extend its Value-Added Tax (VAT) system to cover digital services supplied by non-resident (foreign) companies from 1 January 2018.

Hungary

From 1 January 2019, the Hungarian government is proposing to increase the country’s VAT registration threshold from HUF 8 million to HUF 12 million (approx. £23K to £34k).

Slovakia

From 1 January 2018, non-resident e-commerce businesses who provide goods online, can avoid the obligation to VAT register in Slovakia if:

 

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UK – To extend the scope of joint & several VAT liability for online marketplaces

The UK government has confirmed that from 30 June 2018, in an effort to prevent VAT fraud all UK-based businesses that are involved with fulfilling orders of imported goods for third party businesses will need to apply to join a new approved fulfilment house register.

Read more ...

News from EC

Tax Policy Update – Accountancy Europe

Tax Policy Update – Accountancy Europe

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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.