The date for the EU VAT package for electronic commerce to be put into effect is postponed until July 1, 2021. This was confirmed by the EU Council.
By that date, companies that base their activity on online sales must have their data, systems and processes adapted for this regulatory change.
Initially, the Council of the EU had set the application of this new package of measures on January 1, 2021. However, the European Commission proposed a postponement of 6 months due to delays in implementation, detected by the tax authorities and companies , in the midst of the COVID-19 crisis.
Once the postponement has been firmly confirmed, the Netherlands and Germany have suggested to the European Commission to study a new extension. The Netherlands has indicated that the earliest implementation date it can commit to is January 1, 2022.
However, there is a bloc of member states – Austria, Bulgaria, France and Malta – that prefer the regulation to start rolling on July 1, 2021.
Source: ivaconsulta.com
Latest Posts in "European Union"
- ECJ Rules Non-Transactional Profit Adjustments by Principal Are VAT-Applicable Services in Arcomet Case
- Understanding VAT Implications on Transfer Pricing: Insights from Arcomet Case C-726/23
- VAT Implications on Transfer Pricing Adjustments: Insights from Acromet Towercranes Case
- CJEU Ruling: Transfer Pricing Adjustments Impact VAT in Arcomet Case (C-726/23)
- EU Court of Justice Rules Transfer Pricing Payments Subject to VAT in Arcomet Case
