VATupdate

VATupdate Newsletter Week 26 2021

It’s 1 July, a big day for many people. Because today is International Reggae Day! And who doesn’t like Reggae? With its origins in Jamaican, Reggae music is known around the world over the last 65 years for its diverse rhythmic originality in its folk and popular music genres including Mento, Ska, Rock Steady, Reggae, Dub and Dancehall.

65 years, that’s almost as long as the European VAT rules. Because even though the first EU VAT Directive is from 11 April 1967, some European countries had a VAT system long before that. France was the first country in the world to introduce a VAT in 1954. And the concept of a VAT was already proposed earlier, in 1918 in Germany.

Both countries no longer participate in the European Championship.

We have quite a lot of news for you this week. We highlight the following:

  • It’s already 4 years since India introduced its VAT system. We post a lot of news on India, mainly because there are a lot of administrative and technical amendments, clarifications, and court cases to report. The week we had some posts looking at 4 years of VAT in India. Worth a read.
  • In the Netherlands, the supply of horse sperm is subject to the reduced rate. We didn’t have anything more special to say about our country, now that Team Orange no longer plays for the European Championship. (ha, but we still have Mathieu van der Poel and Max Verstappen!)
  • France will simplify its import VAT postponement scheme. As of 1 January 2022, businesses no longer have to pay VAT at the moment of import, but instead they can report the VAT due in their French VAT Return. The conditions for applying this scheme will be simplified.

Did we mention that today is also the start of the new EU VAT e-commerce rules? No? Good.

Have fun!


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