Simpler, less prone to fraud and better able to take advantage of the internal market, these are the objectives of the European Union’s VAT reform. To this end, the EU has adopted short-term measures, so-called “Quick Fixes”, as of 01.01.2020.
Background on the 2020 Vat Reform Reform Reform
All companies participating in the trade of goods in the internal market with cross-border transactions are affected. The reform will be implemented without transitional periods, so that the legislator must transpose the requirements of Article 45a of the EU No. 282/2011 into national laws by 01.01.2020.
What changes can be expected?
In our background, we explain what is behind the five Quick Fixes, what conditions will apply for the exemption from intra-Community supplies in the future and what adjustments will be made to the rules on book and document documents. In addition, we look at the impact on deliveries via consignment sanots and series transactions.