28 July 2017
The EU’s Economic and Financial Affairs Council (ECOFIN) have failed to reach an agreement on reducing the VAT rate on e-books to match that of printed material.
ECOFIN is an EU council consisting of economic and finance ministers from all EU member states, who are responsible for setting EU polices in three main areas: economic policy, taxation issues and regulation of financial services.
In an ECOFIN meeting held in June 2017, where the reduction of VAT on e-Books was discussed, the Czech Republic representative objected to the measure, raising concerns about potential VAT fraud in the sector and requested a wider review of general digital services VAT treatment.
Currently digital publications are subject to the standard rate of VAT across the EU, while printed publications (offering the same reading content) are normally taxed at reduced rates.
LATEST NEWS
Sri Lanka defers non‑resident VAT on B2C...
Sri Lanka’s Inland Revenue Department (IRD) has announced a further deferral of VAT on digital services supplied through electronic platforms by...
SEE MORE
LATEST NEWS
Germany provides further guidance on how e-invoicing...
The German Ministry of Finance (Bundesministerium der Finanzen, BMF) has updated the e‑invoicing frequently asked questions on its website. The updated FAQs...
SEE MORE
LATEST NEWS
Slovakia proposing to extend domestic reverse charge...
Slovakia is considering expanding its domestic “reverse charge” VAT rules to certain higher risk services. The sectors reported to be in scope include IT...
SEE MORE