2020 EU B2B four quick fixes

What’s inside:

The EU VAT regime,  is due to undergo huge reforms over the next few years. Member states are debating overhauling the current ‘temporary’ systems for a definitive ‘destination’ based regime – provisionally from July 2022.

Ahead of this reform, EU member states have agreed four changes for 1st January 2020 to the business-to-business (B2B) VAT rules on EU cross-border transactions. These reforms are known as the ‘four quickfixes’, and cover the following areas:

  • Call-off-stock
  • Chain transactions
  • Proof of cross-border transportation
  • Customer VAT number

These reforms are aimed at helping eliminate an estimated €50 billion in annual VAT fraud.

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