This month’s guide to the VAT developments that matter, by Martin Shah and Gary Barnett (Simmons & Simmons).
EC launches review of VAT and financial services
The European Commission has launched a roadmap for public feedback as the first stage of its review of the application of the VAT rules to financial services and insurance transactions. The Commission plans to publish a full Public Consultation in early 2021 and an impact assessment in the third quarter of 2021 leading to a proposal for a Directive by the end of 2021.
The Commission has previously attempted to modernise these rules most notably following a 2006 Public Consultation which led to a wide-ranging and long-running review led by the Commission with input from member states. Ultimately that project faltered as a result of disagreements amongst member states (and also due to a change of focus following the 2008...
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This month’s guide to the VAT developments that matter, by Martin Shah and Gary Barnett (Simmons & Simmons).
EC launches review of VAT and financial services
The European Commission has launched a roadmap for public feedback as the first stage of its review of the application of the VAT rules to financial services and insurance transactions. The Commission plans to publish a full Public Consultation in early 2021 and an impact assessment in the third quarter of 2021 leading to a proposal for a Directive by the end of 2021.
The Commission has previously attempted to modernise these rules most notably following a 2006 Public Consultation which led to a wide-ranging and long-running review led by the Commission with input from member states. Ultimately that project faltered as a result of disagreements amongst member states (and also due to a change of focus following the 2008...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
