Tag: EU law

EU – changes in the EU law new reporting obligations for new EU register – SCIP (Substances of Concern In Products) as from 5 of January 2021

Michaela MerzLeave a comment

Companies supplying articles containing substances of high concern (SVHCs) on the Candidate List in a concentration above 0.1% weight by weight (w/w) on the EU market have will have to submit information on these articles to new EU register –  SCIP (Substances of Concern In Products) as from 5 January 2021.  Lead (which is widely used in electronics) is also among these substances. Thus, each article Lead (or the substance itself) must be submitted in this register. Please analyse the list of substances in order to understand if you face additional reporting obligation.

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Italy – Tax authorities may assess under-declared VAT by extrapolation

Michaela MerzLeave a comment

The Advocate General (AG) has opined that the principles of EU law do not preclude national legislation from assessing a taxpayer, who is presumed to have under-declared VAT, for unpaid VAT by means of estimating that taxpayer’s likely revenues based on studies of comparable taxpayers within the same economic sector. However, the national courts must ensure that principles of law, such as the right to challenge the basis of assessment, are respected (Fontana (C-649/16)).Read More »

Brexit- what does it mean from a Tax perspective

Michaela Merz1 Comment

united kingdom exit from europe relative image

What might the implications of Great Britain’s vote to leave be from a VAT perspective?

As the UK must give the European Council notice of intention to withdraw, there is likely to be a period where current law applies, both EU and UK law whilst a Brexit agreement is negotiated. All treaties would cease to apply from entry into force of the withdrawal agreement, or two years from the date of notice. We do not expect a considerable change for at least 2 years.

Which areas of VAT law might change in a UK free from the EU VAT directive?

In the short term at least, it is unlikely that the UK government will rip up VAT law – VAT accounts for >20% of UK tax revenues, is a relatively stable, understood tax – and thereforewholesale changes are unlikely. Read More »