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VAT In the European Union - Making the EU VAT Area Fit for Purpose in the 21st century

Date: Tuesday, August 21, 2018
Time: 1:00 - 2:40 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $219.00

Registration - Live Webinar Plus CD Recording: $288.00

 

Gain a better understanding of VAT and how it impacts you or your client's organization.

Value Added Tax (VAT) can be a very daunting and confusing area and not just for non-Europeans. VAT legislation can baffle lawyers and judges who have themselves spent entire careers interpreting complex legislation, let alone foreign businesses seeking to do business in the EU.

 This topic will consider some of the inherent deficiencies with existing EU VAT legislation. This content will peel away the layers of complexity and will provide U.S. accountants and businesses operating in the EU with a broad understanding of the core concepts of VAT such as the distinction between supplies of ‘goods' and ‘services' for VAT purposes and the critical concept of the ‘place of supply' both for business to business (B2B) supplies and for business to consumer (B2C) supplies.

Understanding these core principles is important for non-EU businesses that are seeking to do business in the EU. The topic will also focus on the steps that the EU has taken to address these deficiencies, including the changes introduced to the place of supply rules for electronically supplied services and the Mini-One Stop Shop (MOSS regime). In particular, the presentation will focus on the recently drafted amendments to the EU VAT directive which will have a significant impact on VAT in future and will consider in particular the potential impacts on U.S. businesses doing business in the EU.

The draft directive proposes significant changes to the current VAT regime in Europe and an understanding of the proposed changes is critical for anyone that is currently doing business in the EU or intends to do business in the EU or anyone advising their clients on doing business in the EU.

Learning Objectives:

  • You will be able to describe the initiatives that the EU Commission is undertaking to address the inherent deficiencies including the key provisions of the 2018 draft VAT Directive.
  • You will be able to recognize and understand the distinction between goods and services for VAT purposes.
  • You will be able to discuss the Mini One Stop Shop (MOSS) and the potential benefits for U.S. businesses doing business in the EU.
  • You will be able to explain the challenges and failings of the existing EU VAT system.

This Live Webinar Covers These Hot Issues:

European VAT – Core Concepts

  • Overview of the Current Principles of VAT
  • High Level Summary of What VAT Is and How It Is Applied, With a Specific Focus on U.S. Businesses
  • Relationship of EU VAT Legislation With the Domestic Legislation of the EU Jurisdictions
  • Distinction Between Goods vs. Services for VAT Purposes
  • Distinction of a Taxable Person and a NonTaxable Person and the Importance
  • Concept of the "Place of Supply" for VAT Purposes Different Depending on Whether
  • Goods or Services Being Supplied
  • Recap of Current VAT Rules for Cross Border Supplies of Goods (Including Place of Supply, Accountable Person)
  • Domestic Supplies
  • Cross Border B2B
  • Cross Border B2C (Distance Selling)
  • Imports
  • Exports
  • Recap of Current VAT Rules for Cross Border Supplies of Services (Including Place of Supply, Accountable Person)
  • Domestic Supplies
  • Cross Border B2B
  • Cross Border B2C
  • Receipt From Outside EU
  • Supply to Customers (Business and Consumer) Outside EU
  • Particular Provisions Relevant for Electronically Supplied Services
  • Particular Provisions Relevant for Electronically Supplied Services
  • Change in the Place of Supply Rules for the Provision of Electronically Supplies
  • Services Wef 1 January 2015
  • Introduction of the Mini One Stop Shop (MOSS)

Towards a Single EU VAT Area

  • Challenges for VAT Legislation in a Very Fast Moving Globalised World
    • Anomalies of Different VAT Rates for Electronic Products vs. Service
    • Multiple VAT Registrations for Traders Compliance Cost
    • Tax Leakage Across EU Member States NonEstablished Traders Selling EServices to
    Consumers in the EU
    • Distortion of Competition
    • Disproportionate Impact on SMEs
  • EU Initiatives
    • Time Lines
    • Objectives
    • Proposed New Legislation Objectives and Benefits of the Draft Directive

The Future

Credit Information (Sponsored by Lorman Education Services):

  • CLE
  • CPE
  • AIPB
  • NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty:

Daniel Cassidy, CPA, Clark Nuber PS

  • Tax principal at Clark Nuber PS in Bellevue, Washington
  • Practice focuses on taxation of corporate and international business transactions for domestic and foreign clients
  • Has written several publications and is a regular speaker on topics related to international and corporate taxation
  • B.S. and M.A. degrees, State University of New York at Buffalo
  • Can be contacted at 425-454-4919 or dcassidy@clarknuber.com

Ronan McGivern, RBK

  • Tax partner with RBK and leads the taxation team in Dublin
  • 19 years of experience advising clients on all areas of tax
  • Substantial experience advising on international tax, tax structuring for Irish companies expanding overseas and multinationals locating in Ireland. He also holds a Certificate in VAT from the Irish Tax Institute and has experience advising on international VAT transactions and property transactions
  • Master of Accounting degree from Smurfit Business School (MAcc) and is a Fellow of the Institute of Chartered Accountants in Ireland (FCAI)
  • Chartered Tax Advisor (CTA) and a member of the Institute of Taxation in Ireland (the leading representative and educational body for Ireland’s CTAs and the only professional body in Ireland exclusively dedicated to tax)
  • Lectures extensively on tax for the Institute of Taxation, for other U.S. and European accounting firms and their clients
  • 2018: Awarded VAT Adviser of the Year, Ireland in the Finance Monthly Taxation Awards 2018. For more, visit: https://www.rbk.ie/news/rbk-win-vat-adviser-award
  • 2018: Recommended by the publication Global Law Experts as their recommended expert on taxation in Ireland http://www.globallawexperts.com/Home.aspx
  • 2016: ‘Accountancy Firm of the Year’ award at the Chambers Ireland InBusiness Recognition Awards 2016. For more, visit: https://www.rbk.ie/news/russell-brennan-keane-win-accountancy-firm-of-the-year
  • Can be contacted at rmcgivern@rbk.ie

(Not available outside the US)