30 November 2023
To prevent VAT fraud, Luxembourg will introduce a domestic reverse charge on supplies of mobile and smartphones, games consoles, computer tablets, laptops, certain precious metals, and antiques.
This new mechanism will be introduced from 1 January 2024 and will be applied to transactions exceeding €10,000 in value.
When implemented it will mean that all VAT registered businesses providing these types of goods will no longer be able to charge VAT on their supplies to other business customers. Instead, it will be the customers’ responsibility to account for the VAT in their own returns. This effectively eliminates any VAT payments between the parties.
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