Upcoming Changes in the World of VAT 2020
26. & 28.11.2019 | Webinar
In October 2017, the European Commission has launched its proposal for one of the largest VAT reform in a quarter of a century (so-called EU Action Plan on VAT). The VAT proposal of the European Commission
should improve and modernize the system for governments and businesses and will mainly affect the companies working on a crossborder level. The implications for businesses are significant, complex and far-reaching.
The main goal of the EU VAT proposal is to tackle cross-border VAT fraud. As part of the EU Action Plan on VAT, on 1 January 2020 substantial amendments will come into force (‘quick fixes’).
This requires preparations for businesses in terms of
- understanding of the new rules
- identifying the impacts on the respective business models
- establishing processes in order to comply with these regulations
- negotiating with business partners (i. e. suppliers, customers) about new or amended contracts.
- Overview about recent developments
- Quick fixes in detail:
- Supply Chain transactions and allocation of ‘moveable’ supply
- Check of VAT Id. Numbers in cross-border transactions
- Correct and complete EC Sales List
- New Consignment Stock Regulations
- E-Commerce Package
- Final VAT System – Outlook 1 January 2022
- Birgit Jürgensmann, Global Head of VAT & Indirect Tax
- Bert Laman, Global VAT & Indirect Tax Group
- Marine Cambolin, Global VAT & Indirect Tax Group
- Thomas Pelzer, Global VAT & Indirect Tax Group
Whether capital market oriented international group, owner managed business or high net worth individual; whether domestic or international activities – tax issues are a decisive factor for all business transactions. Therefore it is our ambition to develop optimized tax strategies in order to achieve a long-term and sustainable reduction of your tax burden.