Recent VAT changes & News in Europe
COVID 19 Special VAT Reductions and Exemptions in the European Union - Updated 10/25/2020. Many countries in the European Union have taken temporary measures to reduce VAT rates or VAT exemptions. Some of these measures have passed, others have been extended or are still valid.
New Intrastat threshold in Bulgaria for 2021. The Bulgarian government has announced the new Intrastat thresholds for 2021:
- For shipments: 270,000 BGN (currently 290,000 BGN),
- For introductions: 430,000 BGN (currently 470,000 BGN)
Entry into force of the new definition of exporter as of November 4, 2020
The Spanish authorities have confirmed that the new definition of exporter will enter into force from November 4, 2020 in Spain. Read more on the Spanish administration website.
Increase in the Spanish VAT rate applicable to sugary and sweetened drinks
The Spanish authorities have announced that they want to increase the VAT rate applicable to sugary and sweetened drinks from 10 to 21%. The entry into force of this measure will be announced shortly.
Explanation of the rules applicable in terms of Intrastat in the United Kingdom to introduction from European countries following Brexit
The HMRC has published FAQs on the obligation for companies to continue to file Intrastat declarations for introduction in the UK from 1 January 2021 for the whole of 2021. Read more on the website of the British authorities. Publication of the updated customs guide for imports and exports carried out in the United Kingdom following Brexit
The British authorities have published an update of the customs guide providing a better understanding of the customs impacts on import and export on the territory of the United Kingdom from January 1, 2021. Read more on the website of the British authorities.