Practical pitfalls of quick fixes

An amendment to the VAT Act implementing long-awaited changes to the intracommunity supply of goods (quick fixes) entered into effect on 1 September 2020. We may already comment on the…

Quick fixes: GFD’s information and EC’s amended explanatory notes

The Czech amendment to the VAT Act implementing quick fixes is still waiting for its second reading in the Chamber of Deputies. At the end of January, the General Financial Directorate…

Quick fixes: chain transactions and transport allocation

The Czech amendment to the VAT Act implementing quick fixes is still awaiting the second reading in the chamber. Its effectiveness is therefore being postponed once again. In the meantime…

Quick fixes: GFD information and amendment to EC explanatory notes

The Czech amendment to the VAT Act implementing quick fixes is still waiting for its second reading in the Chamber of Deputies. At the end of January, the General Financial Directorate…

Amendment to VAT Act for 2020: EC explains call-off stock arrangements

At its January session, the deputies’ chamber will discuss the amendment to the VAT Act introducing quick fixes in its second reading. Most neighbouring countries managed to implement the…

Quick fixes: consignment stock arrangements from January 2020?

The amendment to the VAT Act implementing quick fixes will not be effective from 1 January 2020, since the Chamber of Deputies is yet to discuss it even in its first reading. So how…

Amendment to VAT Act for 2020 (quick fixes): new developments in Brussels

The European Commission has published extensive draft explanatory notes on quick fixes. These include examples of how to declare changes in customers or refunds of goods within…

Update on amendment to VAT Act for 2020 (quick fixes)

An extensive amendment to the VAT Act for 2020 (quick fixes), aiming to harmonise the VAT regime applicable to intra-community supplies of goods, has been submitted to the Chamber of…

Quick fix revolution at hand. What will affect companies the most?

In a couple of months, intra-community supplies will undergo radical changes to the VAT regime, probably the most significant ones in recent history. The mechanism of applying VAT on consignment (call-off) stock arrangements will change entirely:…

Pitfalls of quick fixes: proving transport and chain transactions

In the May issue of Tax and Legal Update, we covered the first two changes arising from the draft 2020 amendment to the VAT Act. The amendment also contains important changes as regards proving transport to another member state and chain…

Quick fixes to introduce significant changes in 2020

A draft amendment to the VAT Act for 2020 introduces significant changes for consignment stock arrangements and intra-community transactions with goods. These quick fixes are aimed at…