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VAT News 44/2024
VAT in the Digital Age (Part 1): New deemed reseller models for digital platforms
The ECOFIN Council approved the amendment to the EU VAT Directive as part of the ‘VAT in the Digital Age’ initiative. This means that the amendments provided for in the compromise proposal of 30 October 2024 will now enter into force. The amendments to the EU VAT Directive are going to extend the existing deemed reseller model for online marketplaces. Moreover, deemed reseller models are going to apply to digital platforms which facilitate short-term accommodation rental or passenger transport. In this newsletter, we would like to inform you about relevant details.
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VAT News 43/2024
VAT in the Digital Age – Approval in EU Council
The EU is paving the way for VAT into the digital future. The proposal for a directive to comprehensively amend the EU VAT Directive ‘with regard to VAT rules for the digital age’ was unanimously adopted today, 5 November 2024. It contains regulations for the platform economy, regarding reporting obligations and electronic invoicing as well as for a single EU VAT registration. In this newsletter, we would first like to give you a brief overview. Over the next few days, we will inform you in detail about the various changes in further newsletters.
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VAT News 42/2024
VAT perspective of Power Plant Redispatch 2.0 and its compensation
The transition of the Federal Republic of Germany towards a power supply system based on renewable energy sources is well underway. In order to guarantee the power supply, grid operators have to ensure grid stability. To prevent regional grid congestion, they may, at short notice, adjust the activity of various power plants, a measure known as Redispatch 2.0. Affected facilities receive a financial compensation and/or an adjustment in the balance sheet. In its letter dated 26 August 2024 the Federal Ministry of Finance (BMF) addresses the question of when this compensation and/ or adjustment is considered to be not subject to VAT. The grace period was only granted until 31 October 2024.
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