HMRC has launched a ‘technical consultation’ on changes to the VAT invoice rules. EU Council Directive 2010/45/EU requires member states to change national legislation by 1 January 2013. Its aim is to reduce the administrative burdens imposed on EU businesses, HMRC said.
The changes ‘assist business by removing or largely reducing current VAT obstacles to the use of electronic invoices, simplifying a number of existing VAT invoicing requirements and removing some existing administrative burdens associated with VAT invoices’.
Many of the changes are already included in existing UK legislation. A technical note outlines the minor changes needed to implement the changes and invites comments by 12 July on draft legislation.
HMRC has launched a ‘technical consultation’ on changes to the VAT invoice rules. EU Council Directive 2010/45/EU requires member states to change national legislation by 1 January 2013. Its aim is to reduce the administrative burdens imposed on EU businesses, HMRC said.
The changes ‘assist business by removing or largely reducing current VAT obstacles to the use of electronic invoices, simplifying a number of existing VAT invoicing requirements and removing some existing administrative burdens associated with VAT invoices’.
Many of the changes are already included in existing UK legislation. A technical note outlines the minor changes needed to implement the changes and invites comments by 12 July on draft legislation.
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