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VAT Invoicing Rules

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Second Directive on VAT Invoicing (Council Directive 2010/45/EU) and Explanatory Notes

The second Directive on VAT invoicing was adopted on 13 July 2010 and its provisions shall be applied by Member States as from 1 January 2013.

It aims to promote and further simplify invoicing rules by removing existing burdens and barriers. It establishes equal treatment between paper and electronic invoices without increasing the administrative burden on paper invoices and has the aim to promote the uptake of e-invoicing by allowing freedom of choice regarding the invoicing method.

Developing the One Stop Shop for cross border VAT compliance

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Brussels, 13 January 2012 – Doing business in more than one Member State often means dealing with several tax administrations in different languages. Dealing with multiple VAT obligations can be very burdensome and costly for companies. The proposal adopted today is a first step towards a One Stop Shop for all electronically delivered services that will benefit businesses as from 1st January 2015. As set out in last December's Commission Communication on the future of VAT (see IP/11/1508), the One Stop Shop approach for EU trade across borders will be applied first to e-commerce, broadcasting and telecom services. In the future the Commission will seek to extend the One Stop Shop step by step to other goods and services.

Financial Transaction Tax: Making the financial sector pay its fair share

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Brussels, 28 September 2011 – Today the Commission has presented a proposal for a financial transaction tax in the 27 Member States of the European Union. The tax would be levied on all transactions on financial instruments between financial institutions when at least one party to the transaction is located in the EU. The exchange of shares and bonds would be taxed at a rate of 0.1% and derivative contracts, at a rate of 0.01%. This could approximately raise €57 billion every year. The Commission has proposed that the tax should come into effect from 1st January 2014.