New digital reporting obligations lay foundations for major shift in tax collections between member states? The recently announced EU VAT in the Digital Age ViDA reforms could help build the detailed transaction reporting that addresses objections to the long delayed Definitive VAT System. This reform
As the Definitive VAT System reforms go on hold, the EU has extend the option to use reverse charge to reduce compliance obligations and fight fraud EU Finance Minister agreed this month to extend the optional reverse charge until 31 December 2026. This is partially
Legislator endorses continuation of anti-VAT fraud measure and Quick Reaction Mechanism until 31 December 2025 The European Union Parliament has voted to retain the VAT reverse charge mechanism to help reduce the VAT Gap – amount of uncollected EU VAT. The reverse charge is an
PSP’s – credit card, bank and online payment providers – to supply e-commerce payment details to shared EU CESOP database The European Commission (EC) on 6 April 2022 has adopted the implementing regulation for imposing reporting and bookkeeping requirements on payment services providers (PSP’s) for their
Countries shift VAT reporting from suppliers to customers to reduce VAT fraud – General & Domestic Reverse Charge by country In attempt to reduce the VAT Gap – the shortfall of VAT revenues compared to expected receipts – EU and other states apply the Reverse
E-tržby or EET certified VAT cash registers The Czech Republic (Czechia) Ministry of Finance has cancelled the reintroduction of its EEU online VAT cash registers due to the ongoing COVID-19 emergency. The requirement was suspended two years ago, and was to be reintroduced on 1 January 2023.
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
New German government rekindles interest in VAT regime reforms shifting the place of taxation on B2B intra-community supplies of goods to destination-based taxation The new German coalition government has committed to supporting a stranded EU VAT regime reform which would shift the obligation to charge
E-tržby or EET certified VAT cash registers The Czech Republic (Czechia) has suspend the rollout of its online VAT cash registers until January 2023 due to the ongoing COVID-19 emergency. The implementation of certified registers E-tržby or EET commenced in 2019. It started with hotels
Hype? Or is an immutable distributed ledger technology the solution to missing EU VAT revenues? The VAT gap of €136 billion per annum and costly complexity of the compliance rules begs for a technological leap. Is blockchain, made (in)famous by cryptocurrencies, the answer? The appeal
