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European Commission Issues Press Release to Mark 'Countdown to Simpler and Fairer VAT system'

02 July 2014

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Approved Changes

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European Union

On 1 July 2014, the European Commission issued a press release marking the beginning of the 6 month countdown to the implementation of the new rules on the place of supply for telecommunications, broadcasting and electronic services and the launch of the Mini One Stop Shop. Under the new rules, which apply from 1 January 2015, VAT will be charged based on the rates of the EU Member State where the consumer is located. Businesses will be able to make use of the Mini One Stop Shop in their home country in order to pay VAT liabilities instead of having...