- Posted by: Maria Calugareanu
- Category: Uncategorized @ro
On 4 December 2018, the EU Council adopted three short legislative acts aimed at adjusting some of the EU’s VAT rules in order to fix certain specific issues pending the introduction of a new VAT system. These changes are to be applicable from 1 January 2020.
We have summarized the most important aspects below:
- Call-off Stock
A simplified and uniform treatment for call-off stock arrangements (transfers of stock to a warehouse at the disposal of a known acquirer in another EU Member State) will be introduced.
- Intra-Community supplies of goods
The VAT identification number of the customer will become an additional mandatory condition in order to benefit from the VAT exemption for intra-Community supplies of goods.
A common framework is established for the documentary evidence required to claim a VAT exemption for intra-EU supplies.
- Chain Transactions
To enhance legal certainty in determining the VAT treatment of chain transactions, uniform criteria will be used at EU level.
Author: Silviu Savu – Manager, Indirect Tax
For additional information, please contact:
Alex Milcev, Partner – Head of Tax & Legal