Issue 7 - July 2013

July 2013


Significant VAT highlights this month include the finalization of the rules governing the January 1, 2015 B2C changes for electronically supplied services to consumers within the EU and the implementation of a Quick Reaction Mechanism allowing EU countries to implement emergency measures in instances of VAT fraud. In other important news, the Bahamas introduces a VAT in 2014, and South Africa implements regulation around its plans to tax the import of e-services.

The newsletter also highlights the following items of interest:

  • A ruling of the Court of Justice of the European Union (CJEU) regarding late payment penalties
  • A CJEU decision regarding VAT and the theft of goods
  • A CJEU ruling on the place of supply of storage services
  • The repeal of an exemption for lawyer services in Belgium effective January 1, 2014
  • A new VAT warehousing scheme implemented in Greece
  • The postponement until October 1, 2013 of Italy's VAT rate increase
  • The announcement of a VAT rate increase from 20% to 22% in Slovenia
  • A First Tier Tax Tribunal decision in the UK regarding eyeglasses supplied via the Internet
  • A notice that Her Majesty's Revenue & Customs is encouraged to combat VAT fraud among online traders
  • The introduction of a tougher VAT penalty regime and VAT rate increase in Montenegro
  • The amendment of fiscal representative rules effective July 1, 2013 in Norway
  • New VAT regulations implemented effective July 1, 2013 in Vietnam

Contact us

Thomas Boniface
US Practice Leader, VAT
Tel: +1 (646) 471 4579

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