EU VAT system, Quick Fixes
With the quick fixes, an interim solution came into force in January 2020 to unify and improve the VAT system within the EU. The new regulations on consignment stocks, chain transactions and intra-Community deliveries have already been in force for six months, and applications are now available to help with their implementation.
For example, ClearVAT presented its tool CHECKVAT for checking VAT identification numbers (VATIN) at the AWB webinar. Since the tax exemption for intra-Community deliveries has been more strictly regulated, the supplier is now responsible for ensuring that the customer's VATIN is valid at the time of delivery. Otherwise, the tax exemption does not apply. With CHECKVAT, ClearVAT offers a complete solution for the automated verification of VATIN, which enables suppliers to validate several customers at the same time and archive the results for later revision.
The second part of the webinar revolved around the Second Corona Tax Assistance Act, including the VAT changes from 1 July 2020. The reduction for six months, which was surprisingly decided by the legislator, poses a number of challenges for traders: these include the correct declaration of the advance VAT return, the significance of the time of performance of the turnover and the special features of the exchange of goods.
The AWB online session ended with an outlook on the changes in e-commerce 2021. The reforms which have now been postponed to July 1, 2021, include the planned introduction of a one-stop shop for the VAT registration of distance sales and the abolition of the exemption from customs duties of up to 22 euros for goods from third countries. These topics will be explained in detail in another webinar.
We will be happy to keep you informed about the next webinar dates. Simply send us an e-mail.
26.06.2020VAT reduction on 1 July: What online trade must now comply with
On July 1, 2020, as part of the German government's economic stimulus package, the value-added tax will be reduced to 16 or 5 percent, and retailers will have to take the temporary change into account in their business. What are the legal requirements for shipping and shop adjustments?
During the Corona pandemic, online trade has in some cases recorded significant growth: Instead of masks and long queues in front of stores, customers prefer to shop online. How does the changed everyday life affect the industry?
18.06.2020E-Commerce and Brexit - what's next?
On 31 December 2020 the transitional period ends - and the Brexit comes. So far there are no results for a trade agreement between EU and UK, the negotiations are to be intensified in July. What does it mean for e-commerce?
07.07.2020Cross-border E-Commerce in Europe withstands COVID-19
After insecure consumers and logistical problems initially led to a decline in revenues, cross-border online trade is picking up again. The crisis has shown that digital renewal and international networking are necessary in order to benefit from the growth potential.
11.06.2020Audit-proof checking of VAT identification number (VATIN)
Quick fixes, VAT reform, practical experience - in a webinar the AWB will discuss the latest news from the VAT law 2020. ClearVAT will present CHECKVAT, a new VATIN verification tool.