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Do you sell electronically supplied services in the EU For example; training, music and film downloads?
If so, you will be subject to the new VAT rules that came into effect on January 1st. The critical change is that VAT will be charged based on the location of the customer.
This is a significant change and is perhaps best illustrated by an example. Previously, if a UK customer downloaded music from a company based in Luxembourg, the music would have been subject to 3% VAT, but from the January 1st the UK customer will
be charged UK VAT, currently 20%.
The affected online retailers will need to either register for VAT in the countries where they sell or will need to register with the Mini One Stop Shop (MOSS) system. I am sure this will be the obvious choice as it allows such retailers to pay
VAT to one place and the VAT monies will then be distributed as appropriate on its behalf.
For those affected by these changes, there’s plenty to think about. Will you swallow the price differential? Or have different ‘after VAT’ prices in the effected member states? There will inevitably be significant system changes
needed, particularly with the additional data that will need to be collected on purchase.
We usually only cover across EU or UK changes but we
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