The European Commission issued letters of formal notice to twelve EU Member States for a delay in implementing the four VAT ‘quick fixes’ (which took effect January 1st, 2020) in their local legislation.
The ‘quick fixes’ aim to provide clarity in addition to guidance on the correct VAT treatment of EU supplies of goods. They include the following:
- EU cross-border call-off stock supplies
- Documentary evidence of proof of EU transport
- Mandatory VAT ID nummer verification for EU supplies
- EU cross border chain transactions
The EU Member States yet to make amendments to their local VAT law are:
- Belgium
- Cyprus
- Czech Republic
- Denmark
- Greece
- France
- Italy
- Luxembourg
- Portugal
- Slovakia
- Spain
- United Kingdom (currently in transitional period)
Some of the listed Member States are in the process of approving amendments to their VAT laws through local parliaments. In the meantime, they indicated that businesses can rely on local VAT law or the VAT Directive until the new laws are approved.
Read more on https://www.vatsquare.com/are-you-ready-for-the-vat-quick-fixes-of-2020/
