The global landscape for indirect taxes continues to change rapidly. Indirect taxes — and VAT in particular — are becoming many jurisdictions’ most important instruments for raising tax revenues. However, current EU VAT legislation is still based on a temporary system which does not account for current logistic and technical developments. In order to simplify and adapt the system to current demands, and to avoid VAT fraud (which is estimated to be over USD 50 billion yearly), the EU introduced the VAT-action plan. This plan will build a more robust system and will result in significant changes as of 2020 and 2021.
Source: bakermckenzie.com
Latest Posts in "European Union"
- CEN Approves Revised EN 16931: A Milestone for ViDA Implementation
- Successful Implementation of VAT in the Digital Age (ViDA) Discussed with Commissioner Hoekstra
- General Court T-638/24 (D GmbH) – AG Opinion – VAT on Intra-Community Acquisitions Not Precluded by Errors
- Commission Backs Italy’s VAT Derogation on certain vehicles Through 2028
- Comments on GC T‑575/24 – AG – Contrary to EU law if services provided to members are regarded as internal acts













