Is your business part of cross-border supply chains of goods? Then pay attention when applying the VAT simplified triangulation scheme. The ECJ takes a stricter approach when assessing if all conditions for application of the scheme are met. A reference to the reverse charge mechanism on the invoice is mandatory according to the ECJ and cannot be corrected (retrospectively). Failure to meet all criteria can result in VAT-compliance burdens. Parties involved in cross-border supplies of goods should assess their flows of goods and whether all conditions linked to the VAT treatment of those flows are met.
Source Loyens Loeff
Join the Linkedin Group on ECJ VAT Cases, click HERE
Latest Posts in "European Union"
- VAT Concepts Explained: Chain Transactions/Triangulation
- E-Invoicing in France, Germany, and Italy: Systems, Timelines, and Regulatory Models Compared
- EU Council and Parliament Agree on Major Customs Reform, Introducing Single Data Hub and New Authority
- EU Reaches Historic Agreement on Customs Union Reform, Modernising Rules for E-Commerce and Trade
- EU Customs Union Undergoes Major Reform for Smarter Data and Stronger Borders
