VAT

How you’re going to make it to the new VAT system of 2022

Have a look at this timeline for the new, definitive VAT system. You may realize that 2022 is not so far away. Though that deadline remains subject to the recommendations of the EU Commission, the time to act is right now! Fortunately, the VAT package offers several measures, or “short-term quick fixes,” adopted by many Member States for entry into forc […]
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What you should know about the VAT package of 2022

“VAT is a major source of tax revenue for EU Member States. Yet, we face a staggering fiscal gap: the VAT revenues collected are EUR 170 billion short of what they should be. This is a huge waste of money…”[1] Pierre Moscovici’s statement feels quite clear. The VAT rules, as they currently exist, do not seem suitable for a constantly evolving tax envi […]
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Solving VAT fraud, once and for all, with blockchain

1954 marked a milestone in the history when, in Edina, Minnesota, construction began on the first-ever modern-era shopping mall. The “Southdale Center”, which still exists, was the first fully enclosed, climate-controlled shopping centre in the world, boasting space for 70 shops. The same year, in France, tax authority director Maurice Lauré introduced a […]
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Year-end tips for Luxembourg taxpayers

December is a month of mixed emotions. Holidays like St. Nicholas Day and Christmas bring a lot of cheer—but they also, well, they don’t cost nothing. Perhaps saving is on your mind. If so, I have a few suggestions for ways to save on your tax bill before the end of this month! https://www.youtube.com/watch?v=VsOp7I5wVZk&feature=youtu.be Watch the vide […]
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Three VAT jingles not to miss before year-end

Have you heard this year’s year-end VAT jingles yet? ‘Tis the season of snow, glühwein, and tax rulings! In September we received the long-awaited decisions from the Court of Justice of the European Union (CJEU) on the VAT exemption related to independent groups of persons (IGPs).[1] This confirmed the fears of many following the Commission against Luxe […]
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Which business model will enable a circular economy?

Ushering in a truly circular economy, i.e. one that runs on products, components, and materials that are reused instead of discarded, requires more than the will to change one’s behaviour. It takes real updates to how we approach the taxation of services and materials. Our last article looked at how stakeholders would feel the different VAT impacts of the rese […]
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