Cross-border VAT changes 2010

HMRC issued some important guidance regarding the changes in the place of supply of services rules which take effect from 1 January 2010.

This guidance is part of a package of measures being introduced to simplify and modernise the VAT system for cross-border trading and to counter fraud across the EU. The measures include:

* changes to the basic place of supply of services rules
* changes to the time of supply rules
* European Sales List (ESL) reporting for supplies of cross-border services
* a new electronic refund procedure for VAT incurred in other EU Member States.

If you are unsure how these changes affect you or your business please do get in touch.