Financing arrangements and third-party consideration
Serpentine behaviour.
Jo Crookshank and Gary Barnett (Simmons & Simmons) review recent VAT developments that matter.
European finance ministers have reached agreement on VAT measures including: reduced rates on e-publications; a generalised reverse charge mechanism; interim ‘quick fixes’; and strengthened administrative cooperation against cross-border fraud.
Karen Killington and Clarissa Vogelaar-Kelly (KPMG) consider the practical effects of the new regime aimed at harmonising the VAT treatment of vouchers across the member states.
The European Commission has sent a reasoned opinion to the UK, marking the second stage of infringement proceedings against the UK’s failure to pay over more than €2bn in customs duty lost through fraud between 2011 and 2017, involving imports of textiles and footwear from China.
The European Commission has approved the UK’s request to extend until December 2020 its VAT directive derogation allowing UK employers to use HMRC’s road fuel scale charges to account for VAT in respect of private use of company cars.
The EU Parliament’s economic and monetary affairs (ECON) committee has tabled its report containing amendments to the Commission’s proposal for creation of a definitive EU VAT system, in advance of the plenary debate and vote in Strasbourg on 2/3 October.
The EU Parliament’s economic and monetary affairs (ECON) committee has tabled its report containing amendments to the Commission’s proposal to allow member states greater flexibility in applying reduced rates, in advance of the plenary debate in Strasbourg on 2 October.