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    • UK Based Global VAT and Tax Compliance Consultants
    14
    Feb

    EU Commission proposes optional anti-fraud reverse charge for domestic goods supplies


    In an attempt to prevent VAT fraud the EU commission has put forward a proposal which will allow EU member states to introduce the reverse charge on all domestic sales between businesses with a value over €10,000. Currently EU member states can only apply the reverse charge to sales in certain industries such as precious metals and mobile phones. If the proposal is accepted then it will mean the reverse charge can be applied across all sectors. The reverse charge allows the business customer to account for the VAT on the transaction in their own VAT reporting. This removes the requirement for the supplier to charge VAT on the transaction which means that no cash payments of the VAT amounts are exchanged.


    Essentia Global Services – European / International / Global vat tax compliance consultants and management agents.
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    We are specialists in global indirect tax management. We help businesses to manage their worldwide compliance with respect to VAT/GST and similar taxes, effectively and economically. Essentia Global Services – European / International / Global vat tax compliance consultants and management agents. Essentia also provides VAT Training Courses and an EU VAT Number Lookup Platform. VAT Global Management & International VAT Registration.