European Union Parliament Endorses Proposal to Amend VAT Reverse Charge Mechanism Rules

The European Union Parliament Dec. 11 passed a legislative resolution endorsing a draft Council decision to amend EU VAT reverse charge mechanism (GRCM) rules. The proposal includes measures to: 1) apply the GRCM rules to all non-cross-border supplies of goods and services above the 25,000-euro (US$28,445) threshold per invoice until June 30, 2022; and 2) require member countries to apply GRCM and exchange information with other member countries. The measures would generally take effect until June 30, 2022. [European Union, Parliament, 12/11/18]

Reference:
View Legislative Resolution No. P8_TA-PROV(2018)0496 of 12/11/18. View Legislative History of Procedure No. 2016/0406(CNS).