DAC6 – update October 2020


All countries have issued DAC6 laws to implement the directive into local law (for Cyprus and Spain, the laws are draft, all other EU Member States have final laws in place).

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Takeda: Global Customs and Trade Compliance Lead – EU, ICMEA, APAC


Overview

Every day, employees working in Takeda’s Global Manufacturing and Supply Chain, and Global Quality business unit are shaping the future of healthcare. They are breaking down barriers and ensuring our life-changing medicines are available, accessible, and affordable to patients. Life-changing for you. Life-changing for patients.

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EU – DAC 6 update


On 17 of June the EU Parliament voted – the last procedural hurdle for formal adoption by the ECOFIN Council in the next few days – regarding an option for E.U. Member States (including UK for these purposes) to defer the reporting deadlines for DAC6 by up to six months. The relevant details are as follows:

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EU Commission releases updated customs guidance as a consequence of COVID-19


The EU Comission updated the document “guidance on customs issues related to the COVID-19 emergency”. Please find the link below.

https://ec.europa.eu/taxation_customs/sites/taxation/files/covid-19-customs-guidance-for-trade.pdf

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EU – Opinion of Advocate General: correction of invoices for transactions already subject to a tax audit should be allowed, under certain conditions


On 26 March 2020, Advocate General Bobek delivered its opinion in case C‑835/18 (SC Terracult SRL), assessing that a taxpayer is allowed to correct invoices for transactions already subject to a tax audit, under certain conditions.

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EU : EORI Number and Brexit


UK left EU on January 31, 2020. Transition period run until December 31, 2020.

In the Netherlands the Dutch customs authorities have already granted Dutch EORI numbers to companies which have a UK EORI number as well. Therefore number of companies have two active EORI numbers in place.

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UK – EU VAT refunds amended legislation in connection with Brexit


HMRC confirmed that the transitional legislation for EU VAT refunds under Part 20 of the VAT Regulations 1995 has been amended to reflect the change in Exit Day from 29 March 2019. The revised legislation was laid on 5 September 2019. You can access a copy of it from this link >

 

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AUSTRIA: E-Commerce Package from January 2021


The e-commerce package shall enter into force from 1 January 2021. The goal is to better ensure taxation in the destination state. At the same time, the simplifications for businesses (One-Stop-Shop), which avoids a VAT registration in every destination Member State, shall be extended.

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US: United States proposes new tarifs on EU products in response to EU aircraft subsidies


United States proposes new tarifs on EU products in response to EU aircraft subsidies

The Trump Administration has identified the European Union as a new object of tariffs, releasing a list of proposed products that may be subjected to additional Section 301 tariffs in light of the EU’s subsidization of civil aircraft.Read More »

EU: Clinical Trials in Europe and VAT – a complex topic with 28 different local VAT regulations


In 2018, PwC Switzerland collected the data and organised for the set up of the PwC “VAT Guide to Clinical Trials in Europe”.

 The Guide to VAT for Clinical Trials in Europe aims at: 

• providing you a first high level overview of the regulations in 28 EU Member States
• helping you assess the VAT implications and reporting obligations (e.g. VAT registration obligation, VAT return, EC Sales Listing and Intrastat reporting)
• assisting you answering some questions related to the trends in the pharma sector for clinical trials and precision medicines.Read More »