The European Commission (EC) has issued formal notice letters to 14 European Union (EU) member states, warning them on their failure to implement the four ‘Quick Fixes’ for Value-Added Tax (VAT) purposes…
The European Commission (EC) has issued formal notice letters to 14 European Union (EU) member states, warning them on their failure to implement the four ‘Quick Fixes’ for Value-Added Tax (VAT) purposes.
These ‘Quick Fixes’ should have been implemented across the EU at the beginning of the year and aim to clarify VAT treatments on certain business to business (B2B) cross-border transactions between EU member states.
The countries warned include: Belgium, Cyprus, Czech Republic, Denmark, France, Greece, Italy, Luxembourg, Poland, Portugal, Romania, Slovakia, Spain, and the United Kingdom.
These countries now have two months to respond to this notice. If they fail to respond or if the response is inadequate, the EC may then send a reasoned opinion, asking them to amend their VAT laws to include these changes.
The above information was kindly provided by Fiscal Solutions (UK), www.fiscalsolutions.co.uk; contact: [email protected].
