EU VAT: WHAT THE FUTURE HOLDS

Prof. Dr. Ben J. M. Terra, one of Europe’s top authorities on Value Added Tax (VAT) and a renowned lawyer and professor of VAT, will join Managing Director of Chelco VAT and Lead Instructor of the Chelco VAT International Academy, Alexis Tsielepis, to enlighten and educate professionals in Cyprus on the future of VAT in the European Union (EU).

The expert duo will present the European Commission’s Action Plan and the upcoming key reforms of the EU VAT system that are expected to come into force in 2019 and 2021. They will also offer a rare insight into the definitive EU VAT system, the workings and intentions of the EU Commission, and a prophetic look into what the future of VAT holds.

Specifically, the following topics will be presented and critically assessed:

The VAT Action Plan for a definitive VAT system: New VAT rules for 2019

  • Short explanation of the VAT Action Plan
  • Explanation of the new adopted VAT rules for electronically supplied services (TBE services) including:
    • Requirement for one piece of evidence
    • Place of supply of TBE services; threshold of €10,000
  • Extension of the use of the non-Union scheme
  • The invoicing rules of a single Member State
  • Brief explanation of the new VAT rules for vouchers also applicable as per 2019, including:
    • Why it was necessary to revisit the VAT position on vouchers
    • Explanation of the definition and VAT treatment of a Single-Purpose Voucher (SPV)
    • Explanation of the definition and VAT treatment of a Multi-Purpose Voucher (MPV)
    • The potential problems that exist with the adopted Directive which must be implemented by Member States by 1.1.2019

The VAT Action Plan for a definitive VAT system: New adopted VAT rules for 2021

  • Explanation of the new VAT rules including:
    • Extension of the Mini One-Stop Shop (MOSS) concept for distance sales and cross border services to end consumers (B2C)
    • Removal of existing distance sales regime and the small consignment exemption on imports
    • Extension of the new One-Stop Shop (OSS) for imports in certain cases

The VAT Action Plan for a definitive VAT system: New proposed VAT rules for 2022

  • Explanation of the proposal to introduce more flexibility for Member States to change the VAT rates they apply to different products
  • Explanation of the proposal to introduce new simplification rules to help reduce VAT compliance cost for small businesses
  • Brief explanation of the proposal for new rules on administrative cooperation between Member States administrations to fight VAT fraud more efficiently
  • Brief overview of a series of fundamental principles and key reforms for the EU’s VAT area, including:
    • Principle of taxation at destination for intra-EU cross-border supplies of goods where the vendor will be liable for the VAT
    • Extension of the one-stop shop
    • Explanation of the four “quick fixes” being proposed by the Commission to improve the day-to-day functionality of the VAT system
    • Explanation of a new concept: “Certified Taxable Person”
  • Brief explanation of the proposal for a Council Directive as regards temporary application of a generalised reverse charge mechanism in relation to supplies of goods and services above a certain threshold

The seminar is open to professionals whose business and operations are directly or indirectly affected by VAT and those offering professional services related to VAT.

Download the seminar brochure in EN

AGENDA

8:30am – 9:00am Registration & Coffee
9:00am – 9.10am Welcome Address
Alexis Tsielepis
9:10am – 11.10am
  • VAT changes in 2019
    • Vouchers, electronically supplied services
  • VAT changes in 2021
    • Special rules for other services, distance sales
11:10am – 11.30am Coffee Break
11.30am – 1.00pm
  • Proposals as per VAT Action Plan 2022
    • Definitive VAT system, quick fixes, VAT rates, SMEs, etc.

Discussion and Questions

1.00pm End of Seminar

THE INSTRUCTORS

Prof. Dr. Ben J. M. Terra
University of Lund, Sweden and Católica Global School of Law, Portugal
E-mail: [email protected]

 

Ben studied international law at the University of Amsterdam and indirect taxation at the University of Leiden.

Previous positions held include Head of Post-Graduate Training in VAT, Customs and Excises at the Ministry of Finance in The Hague, Professor of Law at the University of Leiden and Head of the Global Indirect Tax Practice of Ernst & Young.

He has published numerous articles and books on indirect taxation and is also a consultant of the OECD, the European Commission and IMF. At present, Ben is an indirect tax and European tax law lecturer at the Católica Global School of Law in Portugal and at the Lund University in Sweden.


Alexis Tsielepis, BSc, FCA
Managing Director
Chelco VAT Ltd
E-mail: [email protected]

 

Alexis is widely considered as the foremost expert on VAT in Cyprus. With 15 years of experience in VAT strategic consulting, he advises businesses on international VAT matters and lectures at local and international VAT conferences and schools.

Alexis possesses an extensive vocational and educational experience in European VAT and a detailed comprehension of EU VAT matters and decisions of the European Court of Justice (ECJ). He sits on various committees charged with tax matters, including the VAT Committee of ICPAC, on which he has held various positions, including Vice-President. His work includes liaising with the Cyprus tax authorities and government on policy making.

He has written a number of tax syllabuses, chapters, articles and a book on matters pertaining to Cyprus and EU VAT.

Alexis is a Fellow Chartered Accountant and holds the Expert in European Value Added Tax Degree, which he earned with the highest grade ever awarded in the history of the coveted diploma.

WHO SHOULD ATTEND?

Mid to high-level professionals dealing with VAT matters in all industries, who would like to expand or enhance their VAT knowledge:

  • Chief Financial Officers
  • Chief Accountants
  • Financial Controllers
  • Accountants
  • Tax Consultants
  • VAT Department Officers
  • VAT Specialists

WHEN, WHERE & HOW MUCH?

Date & Venue Limassol
Thursday, 3 May 2018, Columbia Plaza Venue Centre
Time 9:00am – 1:00pm (registration at 8.30am)
4 CPD Units (certificates of attendance will be provided)
Cost €200 + VAT
Seats are limited!
Language English