- The European Union has discussed new VAT rules for fuel cards.
- Member States have agreed that in many cases, the issuer of a fuel card provides a financial service rather than supplying fuel.
- However, if certain conditions are met, the card issuer will be considered to purchase and sell the fuel itself.
- These conditions include taking ownership of the fuel, bearing the financial risk, setting prices, and having an agreement with the fuel supplier.
- The new guidelines do not apply to past transactions.
- The Belgian administration is expected to adopt and comment on these views in a future circular.
Source: vatsquare.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
