The VAT Package: Are you ready?

We are with you in change, every step of the way

 

Important VAT changes for cross-border services

Effective on 1 January 2010 the VAT Package is going to affect:

  1. Place of supply of services:
    The rules for determining the VAT treatment of international services will change. Therefore, businesses will need to consider who will need to account for the VAT on supplies after 1 January 2010.
  2. Reporting obligations:
    Additional filing requirements will be introduced for businesses making intra-EU supplies of services. This will add significant compliance burdens on businesses, and failure to comply may result in severe penalties.
  3. 8th Directive refunds:
    This mechanism, under which EU businesses can reclaim VAT incurred in Member States where they are not established for VAT purposes, will be reformed.

What we can offer you:

  • Effective and timely assessment of the VAT Package impact
    We have developed specialised electronic tools to analyse the existing status of your business and identify where changes are required.
  • PwC change methodology
    PricewaterhouseCoopers has designed the most appropriate methodology to address all business needs in an efficient manner. Our holistic approach is tailor-made to the particular circumstances of each business. We are able to provide you with professional services in connection with the implementation of the VAT Package to your business, but also identify opportunities or risks associated with the new legislation.
  • PwC VAT Package monitoring service
    Developed by our indirect tax specialists across the EU, this is a unique, on-line tool that provides information on the implementation of the VAT Package provisions in 27 Member States. The information includes how the “Use & Enjoyment rule” has been implemented in each country (option taken or not), how the Member States will implement the new Electronic Sales Listing reporting requirements and many more.

Our specialists

PricewaterhouseCoopers in Greece and our VAT specialists’ team can review the international services and associated VAT treatments you use, to understand the impact of the package on your business.

 

Our specialists can assist your business to deal with VAT issues and work with you for a viable solution to meet your business needs. When working with PwC you are accessing a network of more than 1,900 indirect taxes specialists in 130 countries, all pleased to be of services to your company.

 

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