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Quick Fixes 2020 – Update

Some concerns currently exist as to the practical application of the Quick Fixes. However, it may be several weeks until the expected administrative circular is published by the Federal Ministry of Finance. The Explanatory Notes published on 20.12.2019, now also including guidelines from the VAT Committee, can serve as a guide. The final version contains some simplifications with regard to consignment stocks. On the other hand, a somewhat stricter approach appears to be emerging with regard to the communication of the correct VAT-ID. Tools for automated VAT-ID queries, such as the VAT-ID Verifier developed by us, can provide valuable assistance here.

Source: KLMZ

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