Legislative changes to VAT 2020
Four so-called Quick Fixes came into force per 1 January 2020, primarily aimed at simplifying cross-border trade within the EU. Their objective is to allow businesses to harmonise their logistical flows in various countries and decrease the VAT reporting and VAT registration obligations.
Impact on your business
If you are involved in (cross-border) trade, there is a good chance that these VAT rules will influence your business. Many businesses have had to adjust their ERP systems and operational processes (e.g. administration, invoicing). On the other hand, the new rules may offer advantages, such as simplification of the VAT treatment of chain transactions by applying the Quick Fix for the allocation of transport. Similarly, the current need for VAT registrations and VAT reporting in other EU countries may be avoided.
Solutions for your VAT questions
Are your systems and processes not yet ready for these changes? Do you have any questions about the VAT registration obligations in a country where you do business? The VAT specialists at Baker Tilly are fully up to date with the latest developments in the area of the international VAT system and would be happy to advise you on the matter. Please do not hesitate to contact us, or read one of the articles on the changes, written by our VAT specialists. The most recent article is listed first.
- 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 1: The simplified VAT treatment of call-off stock
- Quick Fix 2: The allocation of transport for chain transactions
- Quick Fix 3: Proof of cross-border transport of goods
- Quick Fix 4: Administration of the VAT identification number