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VAT News 23/2024
VAT in the Digital Age – Compromise proposal: overview and timetable
The digital age of VAT could soon be upon us. The EU Commission's proposal for a Directive of 8 December 2022 had envisaged comprehensive changes for the platform economy, reporting obligations and electronic invoicing as well as a single EU VAT registration. However, this was criticised and objected to by some of the Member States. A compromise proposal is now on the table, which the ECOFIN Council is going to discuss at its meeting on 14 May 2024. According to reports, a political agreement on the proposal is within reach. If this is not achieved immediately, the meeting on 21 June 2024 would be the next opportunity. As soon as the EU Council has reached an agreement, we will inform you, in detail, concerning the upcoming changes. In this newsletter, we would like to give you a brief overview of the currently suggested new timetable and compromise proposals.
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VAT News 22/2024
Sales mark-ups for group insurance contracts: IPT, VAT or VAT exempt?
Sales mark-ups for group insurance policies may be subject to Insurance Premium Tax (IPT), but do not have to be. In a recently published judgement, the Fiscal Court Köln commented on the issue of IPT on sales mark-ups and opposed the tax authorities view. The IPT for sales mark-ups was rejected. Now it is up to the Federal Fiscal Court. After its last ruling from 2016 concerning sales mark-ups, the Federal Fiscal Court will now have the opportunity to provide more clarity for taxpayers.
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VAT News 21/2024
Federal Fiscal Court comments on proof of status as taxable person in the absence of a VAT-ID number
In cross-border situations, it is often the case that you only have limited information about your business partners. Nevertheless, as a supplier, you must ensure that the VAT treatment of the supplies is correct. You must therefore trust that the information provided is correct. Obtaining the correct information from the customer is, in practice, not always easy. The current Federal Fiscal Court ruling of 31 January 2024 - V 20/21 deals with the question of what to do in such a case.
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