29 March 2018 New EU VAT rules simplify VAT for e-commerce The European Union (EU) has published new EU Value Added Tax (VAT) rules that are intended to simplify the VAT regime for e-commerce. The full set of new rules will enter into force on January 1, 2021. However, from January 1, 2019, businesses can begin to benefit from the simplified "place of supply rules" for the supply of electronic services as well as telecoms and broadcasting services. According to the European Commission, the new package of EU VAT rules could reduce the compliance costs for businesses selling to multiple EU Member States through online portals by up to 95%. Document ID: 2018-0693 |