The VAT Quick Fixes are four EU-wide changes to the rules concerning the value added tax (“VAT”) treatment of intra-Community supplies and acquisitions of goods which will come into effect on 1 January 2020. The Quick Fixes are likely have implications for any business involved in intra-Community supplies or acquisitions of goods. Specifically, the Quick Fixes will affect the VAT rules applying in each of the following scenarios: (i) the conditions for exemption (zero-rating) of intra-Community supplies of goods; (ii) the proof of transport of intra-Community supplies of goods; (iii) call-off stock transactions; and (iv) chain transactions.
With less than two months remaining for EU member states to complete their legislative processes, the pace of developments is quickening, with draft legislation now available in many key jurisdictions as well as draft detailed guidance notes prepared by the European Commission.
The webcast focuses on how businesses should approach the implementation of changes to systems and procedures in order to be ready for the new rules. We also discuss the current status of the implementation of the Quick Fixes, and potential scenarios where departures from existing VAT law/practice or from the EU measures might arise.
To join the session on the day please click the join meeting button below to see the presentation slides and also dial in using conference call numbers to enable the audio. Please allow sufficient joining time on the day. Should you have any queries regarding the event please let me know.
Presenters include: David Duffy, Indirect Tax Partner, KPMG in Ireland, and Chair of the GITS Policy Group.