After several extensions and long negotiations, the United Kingdom is now set to leave the European Union on 31 January 2020, after which a transitional period will commence until 31 December 2020. Trade between the EU and the UK will be impacted severely, most notably due to changes to harmonised indirect taxes, such as VAT. When EU law ceases to apply, which is currently projected to be after the transitional period, the UK will be treated as a third country instead of a Member State for VAT purposes. This article will provide a legal analysis of the consequences for VAT law.
Source: schoenherr.eu
Latest Posts in "Austria"
- Input Tax Deduction Denied for Property Likely Intended for Tax-Exempt Sale: Court Decision 2024
- No Input VAT Deduction for Unperformed Services Under Austrian VAT Law, Regardless of Good Faith
- Input VAT Deduction Allowed for Preparatory Activities Before Commencing Taxable Rental in Austria
- VAT Refund Process for Domestic VAT Groups: Individual Applications Required per EU Directive 2008/9/EC
- Comments on T-638/24: IC Acquisition also taxable in the event of wrongly charged VAT for exempt IC Supply
