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VAT in the European Union - Making the EU VAT Area Fit for Purpose in the 21st Century

Gain a better understanding of VAT and how it impacts you or your client's organization.

Value Added Tax (VAT) can be a very daunting and confusing area and not just for non-Europeans. VAT legislation can baffle lawyers and judges who have themselves spent entire careers interpreting complex legislation, let alone foreign businesses seeking to do business in the EU. This topic will consider some of the inherent deficiencies with existing EU VAT legislation. This content will peel away the layers of complexity and will provide U.S. accountants and businesses operating in the EU with a broad understanding of the core concepts of VAT such as the distinction between supplies of 'goods' and 'services' for VAT purposes and the critical concept of the 'place of supply' both for business to business (B2B) supplies and for business to consumer (B2C) supplies. Understanding these core principles is important for non-EU businesses that are seeking to do business in the EU. The topic will also focus on the steps that the EU has taken to address these deficiencies, including the changes introduced to the place of supply rules for electronically supplied services and the Mini-One Stop Shop (MOSS regime). In particular, the presentation will focus on the recently drafted amendments to the EU VAT directive which will have a significant impact on VAT in future and will consider in particular the potential impacts on U.S. businesses doing business in the EU. The draft directive proposes significant changes to the current VAT regime in Europe and an understanding of the proposed changes is critical for anyone that is currently doing business in the EU or intends to do business in the EU or anyone advising their clients on doing business in the EU.

Learning Objectives

  • You will be able to differentiate between goods and services for VAT purposes.
  • You will be able to identify current principles of VAT
  • You will be able to recognize current VAT rules for cross border supplies of goods and sevices.
  • You will be able to identify the challenges with the current VAT rules.

Runtime: 102 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

European VAT - Core Concepts

  • Overview of the Current Principles of VAT
    • High Level Summary of What VAT Is and How It Is Applied, With a Specific Focus on U.S. Businesses
    • Relationship of EU VAT Legislation With the Domestic Legislation of the EU Jurisdictions
    • Distinction Between Goods vs. Services for VAT Purposes
    • Distinction of a Taxable Person and a NonTaxable Person and the Importance
    • Concept of the "Place of Supply" for VAT Purposes Different Depending on Whether Goods or Services Being Supplied
  • Recap of Current VAT Rules for Cross Border Supplies of Goods (Including Place of Supply, Accountable Person)
    • Domestic Supplies
    • Cross Border B2B
    • Cross Border B2C (Distance Selling)
    • Imports
    • Exports
  • Recap of Current VAT Rules for Cross Border Supplies of Services (Including Place of Supply, Accountable Person)
    • Domestic Supplies
    • Cross Border B2B
    • Cross Border B2C
    • Receipt From Outside EU
    • Supply to Customers (Business and Consumer) Outside EU
    • Particular Provisions Relevant for Electronically Supplied Services
  • Particular Provisions Relevant for Electronically Supplied Services
    • Change in the Place of Supply Rules for the Provision of Electronically Supplies Services Wef 1 January 2015
    • Introduction of the Mini One Stop Shop (MOSS)

Towards a Single EU VAT Area

  • Challenges for VAT Legislation in a Very Fast Moving Globalised World
    • Anomalies of Different VAT Rates for Electronic Products vs. Service
    • Multiple VAT Registrations for Traders Compliance Cost
    • Tax Leakage Across EU Member States NonEstablished Traders Selling EServices to Consumers in the EU
    • Distortion of Competition
    • Disproportionate Impact on SMEs
  • EU Initiatives
    • Time Lines
    • Objectives
    • Proposed New Legislation Objectives and Benefits of the Draft Directive

The Future

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on February 13, 2019.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.5 including Taxes 2.5
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.5 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.5 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Daniel Cassidy, CPA

Daniel Cassidy, CPA

Clark Nuber PS

  • Tax principal at Clark Nuber PS in Bellevue, Washington
  • Practice focuses on taxation of corporate and international business transactions for domestic and foreign clients
  • Has written several publications and is a regular speaker on topics related to international and corporate taxation
  • B.S. and M.A. degrees, State University of New York at Buffalo
  • Can be contacted at 425-454-4919 or [email protected]
Ronan McGivern

Ronan McGivern

RBK

  • Tax partner with RBK and leads the taxation team in Dublin
  • 19 years of experience advising clients on all areas of tax
  • Substantial experience advising on international tax, tax structuring for Irish companies expanding overseas and multinationals locating in Ireland. He also holds a Certificate in VAT from the Irish Tax Institute and has experience advising on international VAT transactions and property transactions
  • Master of Accounting degree from Smurfit Business School (MAcc) and is a Fellow of the Institute of Chartered Accountants in Ireland (FCAI)
  • Chartered Tax Advisor (CTA) and a member of the Institute of Taxation in Ireland (the leading representative and educational body for Ireland’s CTAs and the only professional body in Ireland exclusively dedicated to tax)
  • Lectures extensively on tax for the Institute of Taxation, for other U.S. and European accounting firms and their clients
  • 2018: Awarded VAT Adviser of the Year, Ireland in the Finance Monthly Taxation Awards 2018. For more, visit: https://www.rbk.ie/news/rbk-win-vat-adviser-award
  • 2018: Recommended by the publication Global Law Experts as their recommended expert on taxation in Ireland http://www.globallawexperts.com/Home.aspx
  • 2016: ‘Accountancy Firm of the Year’ award at the Chambers Ireland InBusiness Recognition Awards 2016. For more, visit: https://www.rbk.ie/news/russell-brennan-keane-win-accountancy-firm-of-the-year
  • Can be contacted at [email protected]
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Product ID: 405726
Published 2019
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