There are two new directives, 1st for the speedy reaction mechanism aimed towards stopping VAT fraud. Second 1 is for the optional and short-term application of the reverse charge mechanism in relation to supplies of particular goods and solutions. Quick Reaction mechanism supplies the legal basis to the nations that are members of the EU to integrate an emergency measure in they are in position to severe case of sudden and enormous VAT fraud.
The measure enables the nations of the EU membership to apply the reverse charge mechanism for a restricted period of time with certain circumstances also to be taken below consideration. All of this represents a more quickly process..
The location of sectors exactly where this mechanism can be taken to action is broader and it consists of also mobile pones, integrated circuit devices, provide of gas and electrical energy, telecom solutions, game consoles, tablet PCs and laptops, cereals and industrial crops and raw and semi-completed components.
As a seller on the market place you are responsable to spend the purchasers VAT primarily based in their personal nation (this suggests any EU nation) nonetheless no matter if you are an EU primarily based corporation or not. This new directives are not quantitiy and value conscious so by promoting 1 ítem for significantly less than a dollar, new legislature will guidelines are nonetheless becoming applied.
You are also obliged to shop purchasers information and facts (their place and so forth.) for the subsequent 10 years right after the deal was executed.
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