3 February 2020
The Czech Republic will delay the introduction of the generalised reverse charge mechanism (GRCM) on domestic supplies undertaken in the country until at least January 2021.
The GRCM was allowed by the European Union in an effort to combat VAT fraud and allows EU member states most severely affected by fraud to apply a GRCM to transactions above a value of €17,500.
For full detail of how the GRCM works, please refer to our previous article here.
LATEST NEWS
The new EU VAT e-commerce package – Implications for...
From 1 July 2021, low-value consignments of €22 or less imported into the European Union (EU) will no longer be exempt from import VAT. Instead, VAT will be...
SEE MORE
LATEST NEWS
The new EU VAT e-commerce package – Implications for...
From 1 July 2021, the European Union’s (EU) e-commerce reform will be introduced, which will include the withdrawal of the current VAT distance selling...
SEE MORE
LATEST NEWS
Separate EORI number for Northern Ireland required
HMRC have recently confirmed that businesses who import and export goods from Northern Ireland (NI) will need a special Economic Operator Identification Number...
SEE MORE