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Umsatzsteuer Newsletter 01/2021
Overview of upcoming VAT highlights in 2021
First of all, we would like to wish you a happy and successful 2021 VAT year! We look back at a turbulent 2020, in which many VAT changes planned for 2021 were pushed into the background. One more reason to get an overview of important VAT changes for 2021 at the turn of the year. The low-tax phase came to an end on 31 December 2020 and the Annual Tax Act 2020 includes a number of VAT changes. Some of them will take effect on 1 July 2021 (e.g. implementation of the e-commerce package).
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Umsatzsteuer Newsletter 63/2020
EU and UK agree on trade agreement as from 1 January 2021
For months, the EU and the United Kingdom (UK) have been negotiating an agreement to regulate their mutual relations after Brexit. After several missed deadlines, the parties finally reached a last minute agreement on 24 December 2020. This agreement is to apply as from 1 January 2021 and regulate, among other things, trade relations between the EU and UK. The previous Withdrawal Agreement remains unaffected. Our latest newsletter summarizes what the trade agreement means for VAT and customs law.
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Umsatzsteuer Newsletter 62/2020
Ministry of Finance publishes new controversial form for 2021 VAT returns
In the second half of the year, the Federal Ministry of Finance (BMF) publishes its annual sample VAT returns form that is to be used for the upcoming tax period. This year, for good reason, the new forms were only published by means of a BMF letter dated 22 December 2020. The late publication of the forms was due to the fact that the Annual Tax Act 2020 only came into force on 21 December 2020. The pre-published drafts of the forms caused an uproar in companies and trade associations. However, the short-term efforts of the trade associations to stop the VAT return form 2021 have been unsuccessful. The BMF is sticking with the forms.
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