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ECOFIN agrees VAT ‘quick fixes’

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The Economic and Financial Affairs Council (ECOFIN) has agreed legislation for the four ‘quick-fixes’, aimed at introducing adjustments to the EU’s VAT rules in order to fix specific issues pending introduction of a definitive EU VAT system in 2022.

The ‘quick-fixes’ involve:

  • simplifying the call-off stock rules, where vendors transfer stock to a warehouse at the disposal of known acquirers in another member state;
  • requiring provision of a VAT identification number as a condition for exemption;
  • simplifying the rules for chain transactions; and
  • simplifying proof-of-transport rules for intra-EU supplies, with a common framework for the documentary evidence required to claim exemption.

These measures will apply from 1 January 2020. See

Issue: 1424
Categories: News , VAT