BB/10/06 VAT—implementation of changes to VAT accounting rules (“reverse charge”) for businesses trading in mobile telephones, computer chips and certain other goods; and further consultation with affected businesses

BB/10/06 VAT—implementation of changes to VAT accounting rules (“reverse charge”) for businesses trading in mobile telephones, computer chips and certain other goods; and further consultation with affected businesses

Business Brief, Issue 10. 19 July 2006

Who needs to read this?

Businesses buying and selling any of the following goods—

1.  

   —     mobile telephones

2.  

   —     computer chips/microprocessors/central processing units

3.  

   —     electronic storage medium which may be used in, or in connection with, computers, or any device in categories 1 and 4

4.  

   —     electronic devices used for the storage, processing or recording of electronic data as follows—

5.  
   1.  

      (a)     handheld devices for recording or playing of sound and or images

   2.  

      (b)     handheld computers

   3.  

      (c)     handheld communication devices other than mobile telephones

   4.  

      (d)     positional determination devices for GPS system

   5.  

      (e)     games consoles with screen, or of a kind used with a television or computer

Background

Missing trader intra-community (MTIC) fraud, also known as carousel