- The EU adopted Directive 2022/542 amending the VAT Directive 2006/112/EC, giving Member States until the end of 2024 to implement the changes.
- The amendments include new rules for VAT taxation on certain services, such as virtual cultural events and streaming activities.
- Changes also allow for more than two reduced VAT rates and clarify the rules for setting VAT rates on imports.
- There are also changes in the taxation of ancillary services to streaming services and an extension of the list of goods and services to which reduced VAT rates may be applied.
Source Crowe
