NEWSROOM

On 22 February 2018 European Fiscal Studies (EFS/Erasmus University Rotterdam (EUR)) held its annual indirect tax-related seminar, this year focusing on the recent proposals of the European Commission on its Action Plan for a Single VAT Area under the title ‘Action Plan on VAT: Towards a Single VAT Area?’. Speakers/ Panel Members included the chairman Prof. Walter de Wit (EFS, Erasmus School of Law, EY), Prof. Gert-Jan van Norden (Tilburg University, KPMG Meijburg & Co), Prof. Marie Lamensch (Vrije Universiteit Brussel, KU Leuven and UCLouvain), Allard van Nes (Royal Friesland Campina) and Marcel Neggers (Dutch Tax and Customs Administration). Prof. Ben Terra (University of Lund, Sweden, Universidade Catholica Lisbon, Portugal) joined the panel during the plenary discussion.
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Significant amendments to a number of tax-regulatory acts are enacted from 1 January 2018 including VAT. The amendments envisage a lower threshold for mandatory registration in the Register of VAT Payers and extend the business areas eligible to special VAT payment regime, the so-called reverse VAT.
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Three major changes to Greek VAT are already in force with effective date 1/1/2018 which affect a significant number of taxpayers and businesses.
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On 20 February 2018 the Council of the European Union has decided to authorise Malta by way of a derogation to Article 287 of the EU VAT Directive (2006/112) to increase to Eur 20,000 in the annual turnover threshold exempting persons whose economic activity consists mainly in the supply of services with a high element of value added.
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