Modifications for transportation taxation – “Quick Fixes” for chain transactions take effect with 1 January 2020

The Economic and Financial Affairs Council has concretised legal details of chain transactions on 4 December 2018. The new regulations have been approved through so-called “Quick Fixes”. Systematically, the new regulations will be integrated in Article 36a of Directive 2006/112/EC. The new VAT regulations do not concern constellations involving non-member countries: The new rules are…

New VAT “quick fixes” system valid as of 1 January 2020 – Amendments and additions to the EU VAT Directive

Largest European VAT reform since 1993 – amendments to call-off stock, chain transactions and intra-Community supplies from 1 January 2020. Following the German Annual Tax Act 2018 (also known as the Tax Act for the Prevention of VAT Revenue Losses from Trading with Goods over the Internet and Amendment of Further Tax Provisions – “Gesetz…

A new EU-wide VAT system

A new EU-wide VAT system to improve cross-border trade in selected areas, the so-called “quick fixes” At the end of 2018, the European Commission approved a proposal for four “VAT quick fixes” which will be effective beginning 1 January 2020, with implications for businesses trading in international goods. Quick fixes were demanded by EU member states…