VAT “Quick Fixes” – Draft Explanatory Notes published

In the run-up to 1 January 2020, the date of entry into force of Council Directive (EU) 2018/1910, Council Implementing Regulation (EU) 2018/1912, and Council Regulation (EU) 2018/1909, the EU Commission services is in the process of preparing Explanatory Notes which are intended to clarify the practical application of the new rules concerning call-off stock, chain transactions and the exemption for the intra-Community supplies of goods.

The Commission services has published a draft of these Explanatory Notes, which were submitted to the EU Member States in the Group on the Future of VAT, as well as stakeholders through the VAT Expert Group, for consultation.

A copy of the Draft Explanatory Notes can be viewed at this link.

An MIT seminar on the 2020 amendments to the legislation implementing the “quick fixes” will be held on 13 November 2019. Visit the MIT Seminar Calendar for more information.