VAT in the Digital Age proposals
In response to the ever-increasing digitisation of the economy, on 8 December 2022 the European Commission published its long-awaited proposals to revamp the EU’s VAT system. The proposals have three main objectives: Modernising VAT reporting obligations, by introducing Digital Reporting Requirements, which will standardise the information that needs to be submitted by taxable persons on
Brexit update: HMRC urges companies to take action and BE administration publish further guidelines on how to trade as from 1 January 2021
Considering that the UK left the European Union on 31 January 2020 and formally informed the EU that it did not want to invoke its right to request for an extension of the transition period, the transition period which started on 1 February of this year will come to an end on 31 December 2020.
Quick Fixes – Intra-Community Supplies – VAT number of your client becomes a material condition
By 1 January 2020, the EU Member States have the obligation to introduce the so-called “quick fixes” in their national VAT legislation. These “quick fixes” are 4 concrete measures that are aimed at establishing a uniform VAT treatment for certain cross-border EU supply of goods transactions. From a Belgian perspective, the draft law has recently
Brexit update – New UK Prime Minister
13 weeks until Brexit The dispute about the leadership of the Conservative Party has come to an end – Mr Johnson is the next Prime Minister of the UK. Within minutes after the announcement, EU Chief Brexit negotiator Mr Barnier stated that he is looking forward to constructively work with the new Prime Minister but
EU Commission launches Proposal for Definitive VAT system
As part of the VAT action plan as launched on 7 April 2016, the EU Commission announced a legislative Proposal for the Definitive VAT system for Cross Border EU Trade. Said proposal was published today (hereafter referred to as the Proposal) and introduces the cornerstones of the Definitive VAT system for Cross Border B2B EU trade. A forthcoming proposal
VAT exemption for intra-Community supplies: Transport document can be replaced by destination document
In order to apply the VAT exemption for intra-Community supplies in Belgium (article 39bis of the Belgian VAT Code), Belgian VAT authorities require the supplier (amongst others) to obtain and keep a set of commercial documents that the goods have been transported from Belgium to another Member State. Suitable evidence includes contracts, purchase orders, transport
