European Commission call for evidence and public consultation on 3 reforms to EU VAT The European Commission is inviting feedback on three proposed reforms to improve the efficiency, fairness and tax collections of the 27-member state VAT regime : Separate reforms to OSS and IOSS were
Overcharged import VAT recovery via IOSS return gets backing Group on the Future of VAT May 2023 update: The EC has proposed ending the €150 VAT threshold on consignment stocks from March 2028. The European Commission’s Group on the Future of VAT has backed double
Withdrawal of €22 low value consignment exemption and new IOSS return success; 8,000+ IOSS registrations; Council backs VAT in the Digital Age further reforms The European Commission has confirmed that EU member states have collected €1.9 billion between July and December 2021, the first six
Sharing best practices on tax administration and collections to reduce missing VAT The European Commission is developing its VAT Gap Initiative in the third quarter of 2022 to help exchange ideas between EU member states’ tax administrations to help close the EU VAT Gap. This
European Commission VAT reforms public consultation extended 20 days The EC has stretched out the public consultation deadline of its VAT in the Digital reforms from 15 April to 5 May 2022. The public call for evidence phased completed on 17 February. The consultation seeks
EU Parliament backs member states’ reduced VAT rate freedoms – can now enter EU law The European Union Parliament has backed this month Finance Ministers’ agreement on extended reduced VAT rate setting powers. Member states may now commence incorporating into EU law once gazetted. The
Rollover of reverse charge to fight fraud until December 2025 The European Commission is proposing to allow member states to continue to use optional VAT reverse charge measure to fight fraud. It intends to rollover the existing measures until 31 December 2025. This includes application
The European Commission is proposing to give member states the freedom to waive Value Added Tax on defence spending. This is part of a wider range of measures to promote and support coordinated defence spending amongst the member states. This would be tied to collaboration
Anti-VAT fraud initiatives get Parliament vote The European Parliament voted on 16 February 2022 in favour of harmonising pan-EU e-invoicing and supporting the adoption of the definitive VAT system reform to: facilitate cross-border interoperability; ensure legal compliance; increase transparency in commercial transactions; and limit fraud
Overcharged import VAT recovery via IOSS return proposal The European Commission (EC) has proposed a solution to the problem of double taxation arising on the new Import One-Stop Shop process for declaring VAT on imports not exceeding €150. It suggests allowing sellers or deemed supplier
