Changes to VAT legislation 2020
Four Quick Fixes for simplifying cross-border trade within the EU have taken effect on 1 January 2020. These fixes aim to enable companies to harmonise their logistics flows in various countries and reduce their VAT reporting and registration obligations.
Impact on your company
If you are involved in (cross-border) trade, there is a significant chance that these VAT rules will affect your company. Many companies had to make changes to their ERP systems and operational processes (record-keeping, invoicing). On the other hand, the Quick Fix concerning transport allocation may, for example, lead to simplified VAT handling of chain transactions. Current VAT registrations and reporting obligations in other Member States may potentially be avoided.
Answers to your VAT questions
Have you not yet completed the changes to your systems or processes? Do you have questions about the VAT registration obligations in a certain country in which you conduct business? The VAT specialists of Baker Tilly are thoroughly familiar with the latest developments concerning the international VAT system and would be happy to advise you. Feel free to contact us or read one of the articles written about the changes by our VAT specialists. The most recent article can be found at the top.
- Update on the Quick Fixes for VAT
- Q&A Quick Fixes
- Recap of the Quick Fix on the VAT identification number
- The Netherlands withdraws regulation for consignment stock
- Quick Fix 4: Administration of the VAT identification number
- Quick Fix 3: Proof of cross-border transport of goods
- Quick Fix 2: The allocation of transport for chain transactions
- Quick Fix 1: The simplified VAT treatment of call-off stock