- Simplified VAT Compliance: Single VAT Registration allows businesses to register for VAT in one EU member state and file a single VAT return through the One-Stop Shop (OSS) or Import OSS (IOSS), streamlining compliance and eliminating the need for multiple registrations across different countries.
- Upcoming Changes by 2028: Significant reforms are set to take effect, including the expansion of OSS to cover the movement of own goods, enhanced reverse charge rules for B2B transactions, and stricter fraud prevention measures under IOSS, requiring businesses to prepare now for these updates.
- Limitations of SVR: While SVR simplifies many processes, businesses may still need local VAT registrations for certain domestic transactions, B2B supplies, and margin scheme activities, as well as to comply with varying local reporting obligations and e-invoicing mandates.
Source Taxually
See also
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