The VAT warehouse is a simplification regime provided for by art. 50-bis of Law Decree n. 331/1993, implementing art. 157 to 160 of Directive 2006/112/EC. In order to benefit from the VAT warehousing simplification regime, goods have to be physically introduced into the warehouse, a “virtual” storage of goods is not allowed Read More »
Tag: VAT
Italy – increase of the standard VAT rate to 23% on 1 of July 2013
Italy intends to increase the standard rate from 21% to 23% and the reduced rate from 10% to 12% as of July 1, 2013. The plan is however that this should be temporary increase only and the VAT rate should decline to 22% as from January 1, 2014 again.
Spain – Increase of VAT rate as of 1 September 2012
The Spanish Prime Minister announced a rise as of 1 September 2012 of the standard VAT rate from 18% to 21% and of the reduced rate from 8% to 10%. The super-reduced rate remains at 4%.
The Netherlands – optional reverse charge for computer and mobile phones as of June 1, 2012
The Dutch State Secretary of Finance has announced (29 May) that he has taken measures to combat VAT carousel fraud, and that from 1 June 2012 an optional reverse charge mechanism will apply to supplies of mobile phones and computer parts with a value not less than Euro 10,000.
Taxation Trends in the European Union 2012
Shortly published analysis shows that the VAT rates are going only in one direction. For more details have a look at the link below:
http://ec.europa.eu/taxation_customs/taxation/gen_info/economic_analysis/tax_structures/index_en.htm
(source: 2012 edition of the ‘Taxation Trends’ report, Marco Fantini, Head of Sector, « Quantitative analysis of taxation«, DG TAXUD)
Michaela Merz 