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More Compliance, More Risk

John Arnold gives a further update on the Commission's proposals for increased cross-border VAT reporting and highlights their controversial plans to allow EC tax authorities to assess UK businesses
As we all know by now the 1 January 2010 VAT changes for trading cross-border within the EU are the most far-reaching since the Single Market in 1993. The technical changes affect the place of supply rules for services and will require the reverse charge to be applied to most B2B supplies. The UK draft legislation is expected to be published before Christmas.
But whilst the technical changes will be difficult enough for business in themselves they are accompanied by significant extra reporting requirements for both goods and services together with additional risks for businesses trading cross-border. This article looks at...
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