On 23 June 2010, the Council of the European Union approved a new Directive, amending the 2006/112/EC Directive on the common system of value added tax in regard to the rules on invoicing.
The document provides explanatory notes on the EU's Council Directive 2010/45/EU regarding VAT invoicing rules. It aims to help Member States implement the legislation uniformly and help businesses adapt to the new rules. The notes clarify key concepts and requirements around paper and electronic invoices, including ensuring the authenticity of origin, integrity of content, and legibility of invoices. It also covers topics like customer acceptance of electronic invoices, storage of invoices, and the issuance of invoices. The notes are intended as guidance and are not legally binding. Member States may also prepare their own national guides on the new VAT invoicing rules.
July 2010 Financial Services Industry Monthly Bulletin by Reff & Associates a...Andrei Burz-Pinzaru
July 2010 issue of the Financial Services Industry Monthly Bulletin – a banking and finance law publication by Reff & Associates (correspondent law firm of Deloitte Romania) and Deloitte Tax.
Since 2009, our specialist team of finance lawyers and tax advisors prepares for you a summary of the latest legal, tax and regulatory developments relevant for banks, non-banking financial institutions, private pensions funds and capital markets participants in Romania. In addition, our bulletin updates you on the most recent changes and trends in the international financial services industry regulatory framework.
This document proposes a regulation to maintain the current tariff treatment for goods originating from Ecuador until the Protocol of Accession adding Ecuador to the EU's trade agreement with Colombia and Peru enters into force. It aims to avoid trade disruption pending the completion of approval procedures for the Protocol. The regulation would apply from January 2015 until six months after the Protocol enters into force, or until December 2016. It maintains the duty rates that applied on the date Ecuador's Protocol was initialed, and requires Ecuador to maintain its commitments to international conventions and abstain from restricting EU imports.
This document provides frequently asked questions about service tax in India. It defines service tax as a tax on certain specified services levied under the Finance Act of 1994. Normally the service provider pays the tax but in some cases the recipient is responsible. Over 100 taxable services are listed with the applicable tax rate currently at 10.3%. Exemptions and abatements are available in some cases.
This document summarizes changes made to Point of Taxation (POT) Rules and Cenvat Credit rules in 2012. It discusses key provisions related to determining the taxable event for service tax levy. It explains how the POT Rules help determine the applicable tax rate in cases where the rate is changed. It also summarizes the effect of various POT Rules when the service tax rate is increased or decreased.
In the month of March 2021 there were 327 regulatory updates during the month; 199 central updates and 128 from States.
Compliance Watch is our Monthly Compliance Updates Newsletter which presents comprehensive and consolidated regulatory updates from centre, states, union territories, regulators, ministries, across all the categories, and compliance types.
Subscribe for legal updates in India! Call us at +91 8893594595 for details or write to us at https://www.avantis.co.in/legalupdates/ to know latest legal updates in India.
The document provides explanatory notes on the EU's Council Directive 2010/45/EU regarding VAT invoicing rules. It aims to help Member States implement the legislation uniformly and help businesses adapt to the new rules. The notes clarify key concepts and requirements around paper and electronic invoices, including ensuring the authenticity of origin, integrity of content, and legibility of invoices. It also covers topics like customer acceptance of electronic invoices, storage of invoices, and the issuance of invoices. The notes are intended as guidance and are not legally binding. Member States may also prepare their own national guides on the new VAT invoicing rules.
July 2010 Financial Services Industry Monthly Bulletin by Reff & Associates a...Andrei Burz-Pinzaru
July 2010 issue of the Financial Services Industry Monthly Bulletin – a banking and finance law publication by Reff & Associates (correspondent law firm of Deloitte Romania) and Deloitte Tax.
Since 2009, our specialist team of finance lawyers and tax advisors prepares for you a summary of the latest legal, tax and regulatory developments relevant for banks, non-banking financial institutions, private pensions funds and capital markets participants in Romania. In addition, our bulletin updates you on the most recent changes and trends in the international financial services industry regulatory framework.
This document proposes a regulation to maintain the current tariff treatment for goods originating from Ecuador until the Protocol of Accession adding Ecuador to the EU's trade agreement with Colombia and Peru enters into force. It aims to avoid trade disruption pending the completion of approval procedures for the Protocol. The regulation would apply from January 2015 until six months after the Protocol enters into force, or until December 2016. It maintains the duty rates that applied on the date Ecuador's Protocol was initialed, and requires Ecuador to maintain its commitments to international conventions and abstain from restricting EU imports.
This document provides frequently asked questions about service tax in India. It defines service tax as a tax on certain specified services levied under the Finance Act of 1994. Normally the service provider pays the tax but in some cases the recipient is responsible. Over 100 taxable services are listed with the applicable tax rate currently at 10.3%. Exemptions and abatements are available in some cases.
This document summarizes changes made to Point of Taxation (POT) Rules and Cenvat Credit rules in 2012. It discusses key provisions related to determining the taxable event for service tax levy. It explains how the POT Rules help determine the applicable tax rate in cases where the rate is changed. It also summarizes the effect of various POT Rules when the service tax rate is increased or decreased.
In the month of March 2021 there were 327 regulatory updates during the month; 199 central updates and 128 from States.
Compliance Watch is our Monthly Compliance Updates Newsletter which presents comprehensive and consolidated regulatory updates from centre, states, union territories, regulators, ministries, across all the categories, and compliance types.
Subscribe for legal updates in India! Call us at +91 8893594595 for details or write to us at https://www.avantis.co.in/legalupdates/ to know latest legal updates in India.
VAT directive proposal: E-Invoicing Not Equal To Paper InvoicingFriso de Jong
This document provides a compromise text from the Presidency of the Council of the European Union regarding a proposal to amend Directive 2006/112/EC on value added tax (VAT) invoicing rules. The Presidency aims to balance control interests with reducing administrative burdens for businesses. It also tries to find a compromise on rules for electronic invoicing. The Presidency believes electronic invoicing is the future, and the compromise aims to set common rules for control while allowing technology-neutral rules to safeguard electronic invoice content. The Presidency hopes this will lead to agreement in the Tax Questions Group.
This document proposes a Council Directive implementing enhanced cooperation in the area of financial transaction tax among 11 EU member states. It summarizes the background and objectives of the original 2011 Commission proposal for an EU-wide FTT, and explains how this new proposal is adapted for the context of enhanced cooperation among a subset of willing member states. The proposal is based on the original objectives but makes some changes to clarify provisions and strengthen anti-avoidance measures in light of the new multi-national framework.
The document summarizes key aspects of the Modernised Customs Code Implementing Provisions (MCCIP). It discusses the drafting process, timeline and structure of MCCIP. It also provides details on topics covered in MCCIP, including authorized economic operator, binding tariff and origin information, customs value, customs procedures, customs decisions and penalties.
This document summarizes a presentation on EU customs classification. It discusses:
- The significance of accurate customs classification in determining duty rates and eligibility for trade measures.
- How classification is determined according to the Harmonized System and member state tariff nomenclatures.
- The large body of interpretive texts used in classification, including General Rules of Interpretation.
- Tools like Binding Tariff Information that importers can use to obtain certainty on classifications.
- Challenges like potential disputes between importers and customs authorities.
The document discusses a proposed EU directive on allowing companies to transfer their registered office across borders within the EU in a tax-neutral manner while maintaining corporate identity. It would allow companies to relocate without liquidating. The proposal outlines administrative processes for the transfer, including informing employees, submitting reports to shareholders on the implications, and approval by shareholders. It aims to balance free movement rights with legal and tax obligations. The directive could help realize freedom of establishment in the EU single market by facilitating cross-border corporate mobility.
Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC as regards ha...Alex Baulf
Proposal for a Council Directive amending Directive 2006/112/EC as regards harmonising and simplifying certain rules in the value added tax system and introducing the definitive system for the taxation of trade between Member States - released by the European Commission on 04/10/2017.
E Invoicing Compliance Guidelines Special ReportFriso de Jong
The document introduces the new CEN E-Invoicing Compliance Guidelines and explains how they can help businesses implement e-invoicing processes with more legal certainty across Europe. It provides an overview of the existing legal framework for electronic invoicing in the EU, compliance challenges, and the role of European standards bodies in developing the guidelines. The guidelines establish requirements for auditability, authenticity, integrity, and legal compliance of e-invoicing processes. They also describe options for ensuring invoice integrity and authenticity, including process-level and data-level controls, and classify common implementation approaches. The guidelines aim to enable cost-effective e-invoicing and provide a framework for effective tax audits.
EU Modernised Customs Code Implementing Provisions (MCCIP)jasperhelder
The document provides a summary of the Modernised Customs Code Implementing Provisions (MCCIP) covering key changes from the Modernised Customs Code (MCC). It discusses changes to provisions around Authorized Economic Operator status, Binding Tariff Information/Binding Origin Information, repayment/remission, customs value, the right to be heard, and customs procedures including inward processing and customs warehousing.
The document summarizes questions from 11 EU member states to the European Commission regarding its proposal for implementing enhanced cooperation on a financial transaction tax (FTT). Specifically, the member states seek clarification in the areas of: (1) collection of the tax and establishing common rules, (2) ensuring cooperation from non-EU countries, and (3) application of the tax to various financial instruments including government bonds, non-government bonds, and transactions not involving financial institutions. The member states ask how the Commission's impact assessment calculated various estimates and what effects the tax may have on different bond and debt markets.
The new Union Customs Code (UCC) implemented by the European Union in 2016 aims to simplify and standardize customs procedures. It changes rules around authorized economic operators, valuation, tariff classification, registered exporters, bonded warehouses, and representation. While intended to facilitate trade, the UCC requires businesses to comply with new electronic filing requirements and other mandatory rules. Logistics providers like Damco are affected and can provide advice to help clients navigate the changes brought by the new code. The UCC will continue being phased in through 2020 as member states standardize national laws and customs systems become fully digital.
Revised regulatory requirements for e-invoicing starting 28 January 2009Danny Gaethofs
The document discusses proposed changes to European Union regulations on electronic invoicing. It outlines how requirements for electronic signatures and other controls may be relaxed, allowing authenticity and integrity to be proven through normal commercial practices. Record keeping rules would also be simplified, standardizing storage periods at 6 years and allowing electronic conversion of paper invoices. The proposals aim to simplify, modernize and harmonize VAT invoicing rules to reduce burdens on businesses and help countries address fraud.
SYSTEMIC REPORT "MAIN PROBLEMS FACED BY BUSINESS IN CUSTOMS SPHERE" (JULY 2018)Iaroslav GREGIRCHAK
The document contains analysis of the main problems currently faced by business in the customs sphere as well as focuses on the selected directions of its’ strategic reform in Ukraine.
In particular, the Report focuses on such issues as customs value’s determination; inefficient state of legal framework governing use of financial guarantees by declarants; as well as lack of efficient mechanism for bringing to liability officials of customs authorities. We then explore the problem of refund of excessively paid customs duties and fees. The respective recommendations are aimed at preventing the need to seek judicial protection for several consecutive times to attain this goal.
The Report continues with the comprehensive analysis of the problem of classification of goods, followed by the set of recommendations issued to the SFS and the Ministry of Finance, mainly aimed at ensuring unity, consistency and transparency while enforcing laws and regulations.
As far as analysis of the sphere of administrative liability for breach of customs rules is concerned, we recommend bringing Ukrainian legislation in this area in coherence with the best EU practices focused at ensuring that degree of liability is commensurable with the severity of breach and inflicted damages.
Besides, the Report is focuses on groundless intrusion at the part of law enforcers to the customs review procedure. Set of the respective recommendations is aimed at (1) ensuring adequate inter-agency coordination between customs and law enforcement authorities; as well as at (2) introducing legislative amendments which would further restrict the law enforcer’s ability to initiate or otherwise affect customs review procedures.
Furthermore, the Report concentrates on the problem of the protection of intellectual property rights (IPR) faced while transferring goods via customs border of Ukraine, which was examined by the Council from the standpoint of bringing Ukrainian legislation in compliance with the requirements and standards employed in the EU.
Finally, the Report contains critical analysis of selected strategical directions for reforming customs sphere. In particular, having acknowledged recent introduction of a “single window” at the customs, the Council concentrated on such widely anticipated progressive steps as ensuring (1) full-fledged practical use of «authorized economic operators» (АЕО); as well as (2) switch towards post-clearance audit procedure as the main form of control.
The document summarizes proposed changes to the EU VAT directive regarding the place of supply rules for cross-border services. The key points are:
1) The proposal shifts the basic place of supply for B2B cross-border services from the supplier's location to the customer's location, with some exceptions.
2) This reworks the current Article 9 structure and aims to reduce double taxation and simplify VAT compliance for EU businesses.
3) The proposal is part of the EU Commission's ongoing efforts to modernize and harmonize the EU VAT system, though member states have resisted full implementation in the past due to concerns over tax revenue allocation.
The regulation of number porting services in the EU: Are the principles set o...Michal
Number portability is the name given to the facility that allows the subscribers of
Publicly Available Telephone Services (PATS) to change their service provider while
retaining their original number. By enabling subscribers to switch between telecoms
network/service providers with little inconvenience, the number porting service
therefore constitutes a key facilitator of consumer choice and effective competition
on the electronic communications market. The importance of number portability in
this respect is easily demonstrated if it is considered that, in 2010 alone, 930,000
Polish fixed line subscribers availed of this facility, along with a further 866,000 mobile
network subscribers.
The Marrakesh Agreement produced more than 60 agreements and decisions totalling 550 pages - making it one of the largest treaties ever signed. The signing took place at a meeting of trade ministers to the General Agreement on Tariffs and Trade (GATT) and led to the transformation of the GATT into the WTO.
The European Commission report evaluates the implementation of the Late Payment Directive across EU member states. It finds that while the directive has increased awareness of late payments and led to some reductions in average payment periods, its effects have been modest so far. Public authorities in over half of member states do not meet the 30-day limit, and businesses often do not exercise their legal rights due to commercial relationships. The report recommends maintaining the directive, establishing common monitoring systems, and encouraging additional national measures to further accelerate its impact.
Introducing New Government Regulation on Toll Road.pdfAHRP Law Firm
For nearly two decades, Government Regulation Number 15 of 2005 on Toll Roads ("GR No. 15/2005") has served as the cornerstone of toll road legislation. However, with the emergence of various new developments and legal requirements, the Government has enacted Government Regulation Number 23 of 2024 on Toll Roads to replace GR No. 15/2005. This new regulation introduces several provisions impacting toll business entities and toll road users. Find out more out insights about this topic in our Legal Brief publication.
Legislative and jurisprudential developments in the telecommunications sector...Michal
The Telecommunications Law Act1 (in Polish: Prawo Telekomunikacyjne,
hereafter: PT) was subject to a number of amendments in 2011 introduced by
the Amendment Act of 14 April 2011 and the Amendment Act of 16 September
2011 as well as by the separate Act of 30 June 2011 on the implementation of
digital terrestrial television.
In response to the reservations expressed by the European Commission
regarding the compatibility of the way in which regulatory obligations
concerning the setting of wholesale prices are imposed in Poland, the
Amendment Act of 14 April 2011 changed Articles 39 and 40 PT2. The direct
reason for this amendment was set out in a reasoned opinion prepared by the
Commission in October 2010 under Article 258 TFEU3. It was stated therein
that Polish rules regarding the establishment of wholesale prices may give
rise to legal uncertainty and may be discriminatory towards certain telecoms
operators.
Announcement MiFID II Main Changes for authorisationsAtoZForex.com
CySEC highlights the main changes introduced by MiFID II, MiFIR, and the relevant delegated and implementing regulations, which affect the authorisation
requirements for CIFs.
2010 Legislative Developments in TelecommunicationsMichal
The Act from 9 April 2010 on the amendment of the Telecommunications
Law Act1 (in Polish: Prawo Telekomunikacyjne; hereafter, PT) introduced a broad
range of changes concerning the principles in accordance to which telecoms
services are to be provided to end users in Poland. It is important to stress first
the change in the definition of a ‘subscriber’ [Article 2(1) PT]. Accordingly,
every entity that is party to an agreement for the provision of telecoms services
concluded with a provider of publicly available telecoms services, irrespective
of whether the agreement is concluded in a written or any other form, is now
considered a ‘subscriber’. This amendment results from the ECJ judgment of
22 anuary 20092. The Court declared therein that the limitation of the definition
of a ‘subscriber’ to entities that are party to written telecoms agreements only
is incompatible with Article 2(k) of the Framework Directive.
This document summarizes a European Commission conference on e-business. It discusses the Digital Agenda for Europe and its goals of creating a digital single market. It outlines initiatives to promote e-invoicing and e-procurement through consistent standards and cross-border interoperability. The Commission plans to publish a communication on e-invoicing in November and a green paper consultation on expanding e-procurement, seeking input on how to accelerate its adoption across the EU.
VAT directive proposal: E-Invoicing Not Equal To Paper InvoicingFriso de Jong
This document provides a compromise text from the Presidency of the Council of the European Union regarding a proposal to amend Directive 2006/112/EC on value added tax (VAT) invoicing rules. The Presidency aims to balance control interests with reducing administrative burdens for businesses. It also tries to find a compromise on rules for electronic invoicing. The Presidency believes electronic invoicing is the future, and the compromise aims to set common rules for control while allowing technology-neutral rules to safeguard electronic invoice content. The Presidency hopes this will lead to agreement in the Tax Questions Group.
This document proposes a Council Directive implementing enhanced cooperation in the area of financial transaction tax among 11 EU member states. It summarizes the background and objectives of the original 2011 Commission proposal for an EU-wide FTT, and explains how this new proposal is adapted for the context of enhanced cooperation among a subset of willing member states. The proposal is based on the original objectives but makes some changes to clarify provisions and strengthen anti-avoidance measures in light of the new multi-national framework.
The document summarizes key aspects of the Modernised Customs Code Implementing Provisions (MCCIP). It discusses the drafting process, timeline and structure of MCCIP. It also provides details on topics covered in MCCIP, including authorized economic operator, binding tariff and origin information, customs value, customs procedures, customs decisions and penalties.
This document summarizes a presentation on EU customs classification. It discusses:
- The significance of accurate customs classification in determining duty rates and eligibility for trade measures.
- How classification is determined according to the Harmonized System and member state tariff nomenclatures.
- The large body of interpretive texts used in classification, including General Rules of Interpretation.
- Tools like Binding Tariff Information that importers can use to obtain certainty on classifications.
- Challenges like potential disputes between importers and customs authorities.
The document discusses a proposed EU directive on allowing companies to transfer their registered office across borders within the EU in a tax-neutral manner while maintaining corporate identity. It would allow companies to relocate without liquidating. The proposal outlines administrative processes for the transfer, including informing employees, submitting reports to shareholders on the implications, and approval by shareholders. It aims to balance free movement rights with legal and tax obligations. The directive could help realize freedom of establishment in the EU single market by facilitating cross-border corporate mobility.
Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC as regards ha...Alex Baulf
Proposal for a Council Directive amending Directive 2006/112/EC as regards harmonising and simplifying certain rules in the value added tax system and introducing the definitive system for the taxation of trade between Member States - released by the European Commission on 04/10/2017.
E Invoicing Compliance Guidelines Special ReportFriso de Jong
The document introduces the new CEN E-Invoicing Compliance Guidelines and explains how they can help businesses implement e-invoicing processes with more legal certainty across Europe. It provides an overview of the existing legal framework for electronic invoicing in the EU, compliance challenges, and the role of European standards bodies in developing the guidelines. The guidelines establish requirements for auditability, authenticity, integrity, and legal compliance of e-invoicing processes. They also describe options for ensuring invoice integrity and authenticity, including process-level and data-level controls, and classify common implementation approaches. The guidelines aim to enable cost-effective e-invoicing and provide a framework for effective tax audits.
EU Modernised Customs Code Implementing Provisions (MCCIP)jasperhelder
The document provides a summary of the Modernised Customs Code Implementing Provisions (MCCIP) covering key changes from the Modernised Customs Code (MCC). It discusses changes to provisions around Authorized Economic Operator status, Binding Tariff Information/Binding Origin Information, repayment/remission, customs value, the right to be heard, and customs procedures including inward processing and customs warehousing.
The document summarizes questions from 11 EU member states to the European Commission regarding its proposal for implementing enhanced cooperation on a financial transaction tax (FTT). Specifically, the member states seek clarification in the areas of: (1) collection of the tax and establishing common rules, (2) ensuring cooperation from non-EU countries, and (3) application of the tax to various financial instruments including government bonds, non-government bonds, and transactions not involving financial institutions. The member states ask how the Commission's impact assessment calculated various estimates and what effects the tax may have on different bond and debt markets.
The new Union Customs Code (UCC) implemented by the European Union in 2016 aims to simplify and standardize customs procedures. It changes rules around authorized economic operators, valuation, tariff classification, registered exporters, bonded warehouses, and representation. While intended to facilitate trade, the UCC requires businesses to comply with new electronic filing requirements and other mandatory rules. Logistics providers like Damco are affected and can provide advice to help clients navigate the changes brought by the new code. The UCC will continue being phased in through 2020 as member states standardize national laws and customs systems become fully digital.
Revised regulatory requirements for e-invoicing starting 28 January 2009Danny Gaethofs
The document discusses proposed changes to European Union regulations on electronic invoicing. It outlines how requirements for electronic signatures and other controls may be relaxed, allowing authenticity and integrity to be proven through normal commercial practices. Record keeping rules would also be simplified, standardizing storage periods at 6 years and allowing electronic conversion of paper invoices. The proposals aim to simplify, modernize and harmonize VAT invoicing rules to reduce burdens on businesses and help countries address fraud.
SYSTEMIC REPORT "MAIN PROBLEMS FACED BY BUSINESS IN CUSTOMS SPHERE" (JULY 2018)Iaroslav GREGIRCHAK
The document contains analysis of the main problems currently faced by business in the customs sphere as well as focuses on the selected directions of its’ strategic reform in Ukraine.
In particular, the Report focuses on such issues as customs value’s determination; inefficient state of legal framework governing use of financial guarantees by declarants; as well as lack of efficient mechanism for bringing to liability officials of customs authorities. We then explore the problem of refund of excessively paid customs duties and fees. The respective recommendations are aimed at preventing the need to seek judicial protection for several consecutive times to attain this goal.
The Report continues with the comprehensive analysis of the problem of classification of goods, followed by the set of recommendations issued to the SFS and the Ministry of Finance, mainly aimed at ensuring unity, consistency and transparency while enforcing laws and regulations.
As far as analysis of the sphere of administrative liability for breach of customs rules is concerned, we recommend bringing Ukrainian legislation in this area in coherence with the best EU practices focused at ensuring that degree of liability is commensurable with the severity of breach and inflicted damages.
Besides, the Report is focuses on groundless intrusion at the part of law enforcers to the customs review procedure. Set of the respective recommendations is aimed at (1) ensuring adequate inter-agency coordination between customs and law enforcement authorities; as well as at (2) introducing legislative amendments which would further restrict the law enforcer’s ability to initiate or otherwise affect customs review procedures.
Furthermore, the Report concentrates on the problem of the protection of intellectual property rights (IPR) faced while transferring goods via customs border of Ukraine, which was examined by the Council from the standpoint of bringing Ukrainian legislation in compliance with the requirements and standards employed in the EU.
Finally, the Report contains critical analysis of selected strategical directions for reforming customs sphere. In particular, having acknowledged recent introduction of a “single window” at the customs, the Council concentrated on such widely anticipated progressive steps as ensuring (1) full-fledged practical use of «authorized economic operators» (АЕО); as well as (2) switch towards post-clearance audit procedure as the main form of control.
The document summarizes proposed changes to the EU VAT directive regarding the place of supply rules for cross-border services. The key points are:
1) The proposal shifts the basic place of supply for B2B cross-border services from the supplier's location to the customer's location, with some exceptions.
2) This reworks the current Article 9 structure and aims to reduce double taxation and simplify VAT compliance for EU businesses.
3) The proposal is part of the EU Commission's ongoing efforts to modernize and harmonize the EU VAT system, though member states have resisted full implementation in the past due to concerns over tax revenue allocation.
The regulation of number porting services in the EU: Are the principles set o...Michal
Number portability is the name given to the facility that allows the subscribers of
Publicly Available Telephone Services (PATS) to change their service provider while
retaining their original number. By enabling subscribers to switch between telecoms
network/service providers with little inconvenience, the number porting service
therefore constitutes a key facilitator of consumer choice and effective competition
on the electronic communications market. The importance of number portability in
this respect is easily demonstrated if it is considered that, in 2010 alone, 930,000
Polish fixed line subscribers availed of this facility, along with a further 866,000 mobile
network subscribers.
The Marrakesh Agreement produced more than 60 agreements and decisions totalling 550 pages - making it one of the largest treaties ever signed. The signing took place at a meeting of trade ministers to the General Agreement on Tariffs and Trade (GATT) and led to the transformation of the GATT into the WTO.
The European Commission report evaluates the implementation of the Late Payment Directive across EU member states. It finds that while the directive has increased awareness of late payments and led to some reductions in average payment periods, its effects have been modest so far. Public authorities in over half of member states do not meet the 30-day limit, and businesses often do not exercise their legal rights due to commercial relationships. The report recommends maintaining the directive, establishing common monitoring systems, and encouraging additional national measures to further accelerate its impact.
Introducing New Government Regulation on Toll Road.pdfAHRP Law Firm
For nearly two decades, Government Regulation Number 15 of 2005 on Toll Roads ("GR No. 15/2005") has served as the cornerstone of toll road legislation. However, with the emergence of various new developments and legal requirements, the Government has enacted Government Regulation Number 23 of 2024 on Toll Roads to replace GR No. 15/2005. This new regulation introduces several provisions impacting toll business entities and toll road users. Find out more out insights about this topic in our Legal Brief publication.
Legislative and jurisprudential developments in the telecommunications sector...Michal
The Telecommunications Law Act1 (in Polish: Prawo Telekomunikacyjne,
hereafter: PT) was subject to a number of amendments in 2011 introduced by
the Amendment Act of 14 April 2011 and the Amendment Act of 16 September
2011 as well as by the separate Act of 30 June 2011 on the implementation of
digital terrestrial television.
In response to the reservations expressed by the European Commission
regarding the compatibility of the way in which regulatory obligations
concerning the setting of wholesale prices are imposed in Poland, the
Amendment Act of 14 April 2011 changed Articles 39 and 40 PT2. The direct
reason for this amendment was set out in a reasoned opinion prepared by the
Commission in October 2010 under Article 258 TFEU3. It was stated therein
that Polish rules regarding the establishment of wholesale prices may give
rise to legal uncertainty and may be discriminatory towards certain telecoms
operators.
Announcement MiFID II Main Changes for authorisationsAtoZForex.com
CySEC highlights the main changes introduced by MiFID II, MiFIR, and the relevant delegated and implementing regulations, which affect the authorisation
requirements for CIFs.
2010 Legislative Developments in TelecommunicationsMichal
The Act from 9 April 2010 on the amendment of the Telecommunications
Law Act1 (in Polish: Prawo Telekomunikacyjne; hereafter, PT) introduced a broad
range of changes concerning the principles in accordance to which telecoms
services are to be provided to end users in Poland. It is important to stress first
the change in the definition of a ‘subscriber’ [Article 2(1) PT]. Accordingly,
every entity that is party to an agreement for the provision of telecoms services
concluded with a provider of publicly available telecoms services, irrespective
of whether the agreement is concluded in a written or any other form, is now
considered a ‘subscriber’. This amendment results from the ECJ judgment of
22 anuary 20092. The Court declared therein that the limitation of the definition
of a ‘subscriber’ to entities that are party to written telecoms agreements only
is incompatible with Article 2(k) of the Framework Directive.
This document summarizes a European Commission conference on e-business. It discusses the Digital Agenda for Europe and its goals of creating a digital single market. It outlines initiatives to promote e-invoicing and e-procurement through consistent standards and cross-border interoperability. The Commission plans to publish a communication on e-invoicing in November and a green paper consultation on expanding e-procurement, seeking input on how to accelerate its adoption across the EU.
1) Denmark has had great success with its NemHandel e-invoicing system, exchanging over 70 million e-invoices since 2005 and saving €500 million.
2) NemHandel provides an open infrastructure for businesses to easily and securely exchange e-documents like invoices according to international standards.
3) Key aspects of NemHandel include an online registry for finding trading partners, support for standards like UBL 2.0, open-source software, and a web portal for generating invoices.
How KME Group - a worldwide market leader of copper and copper alloy semi finished products - implemented e-Invoicing: project phases, obstacles and solutions.
EBL input to EC consultation on the Final Report of the Expert Group on e-Inv...European e-Business Lab
The document provides comments from the European e-Business Lab (EBL) in response to a consultation on the final report of the Expert Group on e-Invoicing. Some key points made by EBL include:
- Support for the recommendation to harmonize and clarify the legal and VAT framework to ensure equal treatment of paper and electronic invoices.
- Emphasis on the need for a single global e-business messaging standard to promote adoption.
- Agreement with the proposed Code of Practice but noting it only applies to B2B.
- Need for simplification, communication, and standards convergence to facilitate mass adoption by SMEs.
- Support for the principles in the Code of Practice but emphasis on the
The EU ministers responsible for the Information Society Policy on the occasion of the Informal Ministerial Meeting in Granada, on 19 April 2010, agreed on the key actions for the European Digital Agenda, based on the EU2020 strategy.
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Discover innovative uses of Revit in urban planning and design, enhancing city landscapes with advanced architectural solutions. Understand how architectural firms are using Revit to transform how processes and outcomes within urban planning and design fields look. They are supplementing work and putting in value through speed and imagination that the architects and planners are placing into composing progressive urban areas that are not only colorful but also pragmatic.
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
HR search is critical to a company's success because it ensures the correct people are in place. HR search integrates workforce capabilities with company goals by painstakingly identifying, screening, and employing qualified candidates, supporting innovation, productivity, and growth. Efficient talent acquisition improves teamwork while encouraging collaboration. Also, it reduces turnover, saves money, and ensures consistency. Furthermore, HR search discovers and develops leadership potential, resulting in a strong pipeline of future leaders. Finally, this strategic approach to recruitment enables businesses to respond to market changes, beat competitors, and achieve long-term success.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
1. COUNCIL OF Brussels, 23 June 2010
THE EUROPEAN UNION (OR. en)
10858/10
Interinstitutional File:
2009/0009 (CNS)
FISC 60
LEGISLATIVE ACTS AND OTHER INSTRUMENTS
Subject: COUNCIL DIRECTIVE amending Directive 2006/112/EC on the
common system of value added tax as regards the rules on invoicing
10858/10 CHA/NC/hc
DG G I EN
2. COUNCIL DIRECTIVE 2010/…/EU
of
amending Directive 2006/112/EC on the common system
of value added tax as regards the rules on invoicing
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 113
thereof,
Having regard to the proposal from the European Commission,
Having regard to the opinion of the European Parliament1,
Having regard to the opinion of the European Economic and Social Committee2,
Acting in accordance with a special legislative procedure,
1
OJ C , , p. .
2
OJ C , , p. .
10858/10 CHA/NC/hc 1
DG G I EN
3. Whereas:
(1) Council Directive 2006/112/EC of 28 November 2006 on the common system of value
added tax1 lays down conditions and rules concerning value added tax (hereinafter "VAT")
with respect to invoices, in order to ensure the proper functioning of the internal market. In
accordance with Article 237 of that Directive, the Commission has presented a report
which identifies, in the light of technological developments, certain difficulties with regard
to electronic invoicing and which, in addition, identifies certain other areas in which the
VAT rules should be simplified with a view to improving the functioning of the
internal market.
(2) Since record keeping needs to be sufficient to allow Member States to control goods
moving temporarily from one Member State to another, it should be made clear that record
keeping is to include details of valuations on goods moving temporarily between
Member States. Also, transfers of goods for valuation purposes to another Member State
should not be regarded as a supply of goods for VAT purposes.
1
OJ L 347, 11.12.2006, p. 1.
10858/10 CHA/NC/hc 2
DG G I EN
4. (3) The rules concerning the chargeability of VAT on intra-Community supplies of goods and
on intra-Community acquisitions of goods should be clarified in order to ensure the
uniformity of the information submitted in recapitulative statements and the timeliness of
the exchange of information by means of those statements. It is furthermore appropriate
that the continuous supply of goods from one Member State to another over a period of
more than one calendar month should be regarded as being completed at the end of each
calendar month.
(4) To help small and medium-sized enterprises that encounter difficulties in paying VAT to
the competent authority before they have received payment from their customers,
Member States should have the option of allowing VAT to be accounted using a cash
accounting scheme which allows the supplier to pay VAT to the competent authority when
he receives payment for a supply and which establishes his right of deduction when he
pays for a supply. This should allow Member States to introduce an optional cash
accounting scheme that does not have a negative effect on cash flow relating to their
VAT receipts.
(5) To provide legal certainty for businesses regarding their invoicing obligations, it should be
clearly stated which Member State's invoicing rules apply.
10858/10 CHA/NC/hc 3
DG G I EN
5. (6) With a view to improving the functioning of the internal market, it is necessary to impose a
harmonised time-limit for the issue of an invoice with respect to certain
cross-border supplies.
(7) Certain requirements concerning the information to be provided on invoices should be
amended to allow better control of the tax, to create a more uniform treatment between
cross-border and domestic supplies and to help promote electronic invoicing.
(8) Since the use of electronic invoicing can help businesses to reduce costs and be more
competitive, current VAT requirements on electronic invoicing should be revised to
remove existing burdens and barriers to uptake. Paper invoices and electronic invoices
should be treated equally and the administrative burden on paper invoicing should
not increase.
(9) Equal treatment should also apply as regards the competences of tax authorities. Their
control competences and the rights and obligations of taxable persons should apply equally
whether a taxable person chooses to issue paper invoices or electronic invoices.
(10) Invoices must reflect actual supplies and their authenticity, integrity and legibility should
therefore be ensured. Business controls can be used to establish reliable audit trails linking
invoices and supplies, thereby ensuring that any invoice (whether on paper or in electronic
form) complies with those requirements.
10858/10 CHA/NC/hc 4
DG G I EN
6. (11) The authenticity and integrity of electronic invoices can also be ensured by using certain
existing technologies, such as Electronic Data Interchange (EDI) and advanced electronic
signatures. However, since other technologies exist, taxable persons should not be required
to use any particular electronic-invoicing technology.
(12) It should be clarified that, where a taxable person stores on-line invoices which he has
issued or received, the Member State in which the tax is due, in addition to the
Member State in which the taxable person is established, should have the right to access
those invoices for control purposes.
(13) Since the objectives of this Directive regarding the simplification, modernisation and
harmonisation of the VAT invoicing rules cannot be sufficiently achieved by the
Member States and can therefore be better achieved at the level of the Union, the Union
may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5
of the Treaty. In accordance with the principle of proportionality, as set out in that Article,
this Directive does not go beyond what is necessary in order to achieve those objectives.
10858/10 CHA/NC/hc 5
DG G I EN
7. (14) In accordance with point 34 of the Interinstitutional Agreement on better law-making1,
Member States are encouraged to draw up, for themselves and in the interests of the Union,
their own tables illustrating, as far as possible, the correlation between this Directive and
the transposition measures, and to make them public.
(15) Directive 2006/112/EC should therefore be amended accordingly,
HAS ADOPTED THIS DIRECTIVE:
1
OJ C 321, 31.12.2003, p. 1.
10858/10 CHA/NC/hc 6
DG G I EN
8. Article 1
Amendments to Directive 2006/112/EC
Directive 2006/112/EC is amended as follows:
(1) in Article 17(2), point (f) is replaced by the following:
"(f) the supply of a service performed for the taxable person and consisting in valuations
of, or work on, the goods in question physically carried out within the territory of the
Member State in which dispatch or transport of the goods ends, provided that the
goods, after being valued or worked upon, are returned to that taxable person in the
Member State from which they were initially dispatched or transported;";
10858/10 CHA/NC/hc 7
DG G I EN
9. (2) in Article 64, paragraph 2 is replaced by the following:
"2. Continuous supplies of goods over a period of more than one calendar month which
are dispatched or transported to a Member State other than that in which the dispatch
or transport of those goods begins and which are supplied VAT-exempt or which are
transferred VAT-exempt to another Member State by a taxable person for the
purposes of his business, in accordance with the conditions laid down in Article 138,
shall be regarded as being completed on expiry of each calendar month until such
time as the supply comes to an end.
Supplies of services for which VAT is payable by the customer pursuant to
Article 196, which are supplied continuously over a period of more than one year and
which do not give rise to statements of account or payments during that period, shall
be regarded as being completed on expiry of each calendar year until such time as the
supply of services comes to an end.
Member States may provide that, in certain cases other than those referred to in the
first and second subparagraphs, the continuous supply of goods or services over a
period of time is to be regarded as being completed at least at intervals of one year.";
10858/10 CHA/NC/hc 8
DG G I EN
10. (3) in Article 66, first paragraph, point (c), and the second paragraph are replaced by
the following:
"(c) where an invoice is not issued, or is issued late, within a specified time no later than
on expiry of the time-limit for issue of invoices imposed by Member States pursuant
to the second paragraph of Article 222 or where no such time-limit has been imposed
by the Member State, within a specified period from the date of the chargeable event.
The derogation provided for in the first paragraph shall not, however, apply to
supplies of services in respect of which VAT is payable by the customer pursuant to
Article 196 and to supplies or transfers of goods referred to in Article 67.";
10858/10 CHA/NC/hc 9
DG G I EN
11. (4) Article 67 is replaced by the following:
"Article 67
Where, in accordance with the conditions laid down in Article 138, goods dispatched or
transported to a Member State other than that in which dispatch or transport of the goods
begins are supplied VAT-exempt or where goods are transferred VAT-exempt to another
Member State by a taxable person for the purposes of his business, VAT shall become
chargeable on issue of the invoice, or on expiry of the time limit referred to in the
first paragraph of Article 222 if no invoice has been issued by that time.
Article 64(1), the third subparagraph of Article 64(2) and Article 65 shall not apply with
respect to the supplies and transfers of goods referred to in the first paragraph.";
(5) Article 69 is replaced by the following:
"Article 69
In the case of the intra-Community acquisition of goods, VAT shall become chargeable on
issue of the invoice, or on expiry of the time limit referred to in the first paragraph of
Article 222 if no invoice has been issued by that time.";
10858/10 CHA/NC/hc 10
DG G I EN
12. (6) in Article 91(2), the second subparagraph is replaced by the following:
"Member States shall accept instead the use of the latest exchange rate published by the
European Central Bank at the time the tax becomes chargeable. Conversion between
currencies other than the Euro shall be made by using the euro exchange rate of each
currency. Member States may require that they be notified of the exercise of this option by
the taxable person.
However, for some of the transactions referred to in the first subparagraph or for certain
categories of taxable persons, Member States may use the exchange rate determined in
accordance with the Community provisions in force governing the calculation of the value
for customs purposes.";
10858/10 CHA/NC/hc 11
DG G I EN
13. (7) the following Article is inserted:
"Article 167a
Member States may provide within an optional scheme that the right of deduction of a
taxable person whose VAT solely becomes chargeable in accordance with Article 66 (b) be
postponed until the VAT on the goods or services supplied to him has been paid to
his supplier.
Member States which apply the optional scheme referred to in the first paragraph shall set
a threshold for taxable persons using the scheme within their territory, based on the annual
turnover of the taxable person calculated in accordance with Article 288. That threshold
may not be higher than EUR 500 000 or the equivalent in national currency.
Member States may increase that threshold up to EUR 2 000 000 or the equivalent in
national currency after consulting the VAT Committee. However, such consultation of the
VAT Committee shall not be required for Member States which applied a threshold higher
than EUR 500 000 or the equivalent in national currency on 31 December 2012.
Member States shall inform the VAT Committee of national legislative measures adopted
pursuant to the first paragraph.";
10858/10 CHA/NC/hc 12
DG G I EN
14. (8) Article 178 is amended as follows:
a) point (a) is replaced by the following:
"(a) for the purposes of deductions pursuant to Article 168(a), in respect of the
supply of goods or services, he must hold an invoice drawn up in accordance
with Sections 3 to 6 of Chapter 3 of Title XI;";
(b) point (c) is replaced by the following:
"(c) for the purposes of deductions pursuant to Article 168(c), in respect of the
intra-Community acquisition of goods, he must set out in the VAT return
provided for in Article 250 all the information needed for the amount of VAT
due on his intra-Community acquisitions of goods to be calculated and he must
hold an invoice drawn up in accordance with Sections 3 to 5 of Chapter 3 of
Title XI;";
10858/10 CHA/NC/hc 13
DG G I EN
15. (9) Article 181 is replaced by the following:
"Article 181
Member States may authorise a taxable person who does not hold an invoice drawn up in
accordance with Sections 3 to 5 of Chapter 3 of Title XI to make the deduction referred to
in Article 168(c) in respect of his intra-Community acquisitions of goods.";
(10) in Article 197(1), point (c) is replaced by the following:
"(c) the invoice issued by the taxable person not established in the Member State of the
person to whom the goods are supplied is drawn up in accordance with Sections 3
to 5 of Chapter 3.";
(11) Article 217 is replaced by the following:
"Article 217
For the purposes of this Directive, "electronic invoice" means an invoice that contains the
information required in this Directive, and which has been issued and received in any
electronic format.";
10858/10 CHA/NC/hc 14
DG G I EN
16. (12) in Section 3 of Chapter 3 of Title XI, the following Article is inserted:
"Article 219a
Without prejudice to Articles 244 to 248, the following shall apply:
(1) Invoicing shall be subject to the rules applying in the Member State in which the
supply of goods or services is deemed to be made, in accordance with the provisions
of Title V.
(2) By way of derogation from point (1), invoicing shall be subject to the rules applying
in the Member State in which the supplier has established his business or has a fixed
establishment from which the supply is made or, in the absence of such place of
establishment or fixed establishment, the Member State where the supplier has his
permanent address or usually resides, where:
a) the supplier is not established in the Member State in which the supply of
goods or services is deemed to be made, in accordance with the provisions of
Title V, or his establishment in that Member State does not intervene in the
supply within the meaning of Article 192a, and the person liable for the
payment of the VAT is the person to whom the goods or services are supplied.
However where the customer issues the invoice (self billing), point (1)
shall apply.
10858/10 CHA/NC/hc 15
DG G I EN
17. b) the supply of goods or services is deemed not to be made within
the Community, in accordance with the provisions of Title V.";
(13) Article 220 is replaced by the following:
"Article 220
1. Every taxable person shall ensure that, in respect of the following, an invoice is
issued, either by himself or by his customer or, in his name and on his behalf, by a
third party:
(1) supplies of goods or services which he has made to another taxable person or to
a non-taxable legal person;
(2) supplies of goods as referred to in Article 33;
(3) supplies of goods carried out in accordance with the conditions specified in
Article 138;
(4) any payment on account made to him before one of the supplies of goods
referred to in points (1) and (2) was carried out;
10858/10 CHA/NC/hc 16
DG G I EN
18. (5) any payment on account made to him by another taxable person or non-taxable
legal person before the provision of services was completed."
2. By way of derogation from paragraph 1, and without prejudice to Article 221(2), the
issue of an invoice shall not be required in respect of supplies of services exempted
under points (a) to (g) of Article 135(1).";
(14) the following Article is inserted:
"Article 220a
1. Member States shall allow taxable persons to issue a simplified invoice in any of the
following cases:
(a) where the amount of the invoice is not higher than EUR 100 or the equivalent
in national currency;
(b) where the invoice issued is a document or message treated as an invoice
pursuant to Article 219.
10858/10 CHA/NC/hc 17
DG G I EN
19. 2. Member States shall not allow taxable persons to issue a simplified invoice where
invoices are required to be issued pursuant to points (2) and (3) of Article 220(1) or
where the taxable supply of goods or services is carried out by a taxable person who
is not established in the Member State in which the VAT is due, or whose
establishment in that Member State does not intervene in the supply within the
meaning of Article 192a, and the person liable for the payment of VAT is the person
to whom the goods or services are supplied.";
(15) Articles 221, 222, 223, 224 and 225 are replaced by the following:
"Article 221
1. Member States may impose on taxable persons an obligation to issue an invoice in
accordance with the details required under Articles 226 or 226b in respect of supplies
of goods or services other than those referred to in Article 220(1).
2. Member States may impose on taxable persons who have established their business
in their territory or who have a fixed establishment in their territory from which the
supply is made, an obligation to issue an invoice in accordance with the details
required in Articles 226 or 226b in respect of supplies of services exempted under
points (a) to (g) of Article 135 (1) which those taxable persons have made in their
territory or outside the Community.
10858/10 CHA/NC/hc 18
DG G I EN
20. 3. Member States may release taxable persons from the obligation laid down in
Article 220(1) or in Article 220a to issue an invoice in respect of supplies of goods or
services which they have made in their territory and which are exempt, with or
without deductibility of the VAT paid in the preceding stage, pursuant to
Articles 110 and 111, Article 125(1), Article 127, Article 128(1), Article 132,
points (h) to (l) of Article 135(1), Articles 136, 371, 375, 376 and 377,
Article 378(2), Article 379(2) and Articles 380 to 390b.
Article 222
For supplies of goods carried out in accordance with the conditions specified in Article 138
or for supplies of services for which VAT is payable by the customer pursuant to
Article 196, an invoice shall be issued no later than on the fifteenth day of the month
following that in which the chargeable event occurs.
For other supplies of goods or services Member States may impose time-limits on taxable
persons for the issue of invoices.
10858/10 CHA/NC/hc 19
DG G I EN
21. Article 223
Member States shall allow taxable persons to issue summary invoices which detail several
separate supplies of goods or services provided that VAT on the supplies mentioned in the
summary invoice becomes chargeable during the same calendar month.
Without prejudice to Article 222, Member States may allow summary invoices to include
supplies for which VAT has become chargeable during a period of time longer than one
calendar month.
Article 224
Invoices may be drawn up by the customer in respect of the supply to him, by a taxable
person, of goods or services, where there is a prior agreement between the two parties and
provided that a procedure exists for the acceptance of each invoice by the taxable person
supplying the goods or services. Member State may require that such invoices be issued in
the name and on behalf of the taxable person.
Article 225
Member States may impose specific conditions on taxable persons in cases where the third
party, or the customer, who issues invoices is established in a country with which no legal
instrument exists relating to mutual assistance similar in scope to that provided for in
Directive 2010/24/EU∗ and Regulation (EC) No 1798/2003∗∗.
____________
∗
Council Directive 2010/24/EU of 16 March 2010 concerning mutual assistance for the recovery of
claims relating to taxes, duties and other measures (OJ, L 84, 31.3.2010, p. 1).
∗∗
Council Regulation (EC) No 1798/2003 of 7 October 2003 on administrative cooperation in the field
of value added tax (OJ L 264, 15.10.2003, p. 1).";
10858/10 CHA/NC/hc 20
DG G I EN
22. (16) Article 226 is amended as follows:
(a) the following point is inserted:
"(7a) where the VAT becomes chargeable at the time when the payment is received
in accordance with Article 66 (b) and the right of deduction arises at the time
the deductible tax becomes chargeable, the mention "Cash accounting";";
(b) the following point is inserted:
"(10a)where the customer receiving a supply issues the invoice instead of the
supplier, the mention "Self-billing";";
(c) point (11) is replaced by the following:
"(11) in the case of an exemption, reference to the applicable provision of this
Directive, or to the corresponding national provision, or any other reference
indicating that the supply of goods or services is exempt;";
(d) the following point is inserted:
"(11a)where the customer is liable for the payment of the VAT, the mention
"Reverse charge";";
10858/10 CHA/NC/hc 21
DG G I EN
23. (e) points (13) and (14) are replaced by the following:
"(13) where the margin scheme for travel agents is applied, the mention "Margin
scheme - Travel agents";
(14) where one of the special arrangements applicable to second-hand goods, works
of art, collectors' items and antiques is applied, the mention
"Margin scheme - Second-hand goods"; "Margin scheme - Works of art" or
"Margin scheme - Collector's items and antiques "respectively;";
(17) the following Articles are inserted:
"Article 226a
Where the invoice is issued by a taxable person, who is not established in the
Member State where the tax is due or whose establishment in that Member State does not
intervene in the supply within the meaning of Article 192a, and who is making a supply of
goods or services to a customer who is liable for payment of VAT, the taxable person may
omit the details referred to in points (8), (9) and (10) of Article 226 and instead indicate, by
reference to the quantity or extent of the goods or services supplied and their nature, the
taxable amount of those goods or services.
10858/10 CHA/NC/hc 22
DG G I EN
24. Article 226b
As regards simplified invoices issued pursuant to Articles 220a and 221 (1) and (2),
Member States shall require at least the following details:
(a) the date of issue;
(b) identification of the taxable person supplying the goods or services;
(c) identification of the type of goods or services supplied;
(d) the VAT amount payable or the information needed to calculate it;
(e) where the invoice issued is a document or message treated as an invoice pursuant to
Article 219, specific and unambiguous reference to that initial invoice and the
specific details which are being amended.
They may not require details on invoices other than those referred to in Articles 226, 227
and 230.";
(18) Article 228 is deleted;
10858/10 CHA/NC/hc 23
DG G I EN
25. (19) Article 230 is replaced by the following:
"Article 230
The amounts which appear on the invoice may be expressed in any currency, provided that
the amount of VAT payable or to be adjusted is expressed in the national currency of the
Member State, using the conversion rate mechanism provided for in Article 91.";
(20) Article 231 is deleted;
(21) the heading of Section 5 of Chapter 3 of Title XI is replaced by the following:
"Paper invoices and electronic invoices";
(22) Articles 232 and 233 are replaced by the following:
"Article 232
The use of an electronic invoice shall be subject to acceptance by the recipient.
10858/10 CHA/NC/hc 24
DG G I EN
26. Article 233
1. The authenticity of the origin, the integrity of the content and the legibility of an
invoice, whether on paper or in electronic form, shall be ensured from the point in
time of issue until the end of the period for storage of the invoice.
Each taxable person shall determine the way to ensure the authenticity of the origin,
the integrity of the content and the legibility of the invoice. This may be achieved by
any business controls which create a reliable audit trail between an invoice and a
supply of goods or services.
"Authenticity of the origin" means the assurance of the identity of the supplier or the
issuer of the invoice.
"Integrity of the content" means that the content required according to this Directive
has not been altered.
10858/10 CHA/NC/hc 25
DG G I EN
27. 2. Other than by way of the type of business controls described in paragraph 1, the
following are examples of technologies that ensure the authenticity of the origin and
the integrity of the content of an electronic invoice:
(a) an advanced electronic signature within the meaning of point (2) of Article 2 of
Directive 1999/93/EC of the European Parliament and of the Council
of 13 December 1999 on a Community framework for electronic signatures∗,
based on a qualified certificate and created by a secure signature creation
device, within the meaning of points (6) and (10) of Article 2 of
Directive 1999/93/EC;
(b) electronic data interchange (EDI), as defined in Article 2 of Commission
Recommendation 1994/820/EC of 19 October 1994 relating to the legal aspects
of electronic data interchange, where the agreement relating to the exchange
provides for the use of procedures guaranteeing the authenticity of the origin
and integrity of the data.
____________________
∗
OJ L 13, 19.1.2000, p.12.";
(23) Article 234 is deleted;
10858/10 CHA/NC/hc 26
DG G I EN
28. (24) Articles 235, 236 and 237 are replaced by the following:
"Article 235
Member States may lay down specific conditions for electronic invoices issued in respect
of goods or services supplied in their territory from a country with which no legal
instrument exists relating to mutual assistance similar in scope to that provided for in
Directive 2010/24/EU and Regulation (EC) No 1798/2003.
Article 236
Where batches containing several electronic invoices are sent or made available to the
same recipient, the details common to the individual invoices may be mentioned only once
where, for each invoice, all the information is accessible.
Article 237
"By 31 December 2016 at the latest, the Commission shall present to the European
Parliament and the Council an overall assessment report, based on an independent
economic study, on the impact of the invoicing rules applicable from 1 January 2013 and
notably on the extent to which they have effectively led to a decrease in administrative
burdens for businesses, accompanied where necessary by an appropriate proposal to amend
the relevant rules.";
10858/10 CHA/NC/hc 27
DG G I EN
29. (25) Article 238 is amended as follows:
(a) paragraph 1 is replaced by the following:
"1. After consulting the VAT Committee, Member States may, in accordance with
conditions which they may lay down, provide that in the following cases only
the information required under Article 226b shall be entered on invoices in
respect of supplies of goods or services:
(a) where the amount of the invoice is higher than EUR 100 but not higher
than EUR 400, or the equivalent in national currency;
(b) where commercial or administrative practice in the business sector
concerned or the technical conditions under which the invoices are issued
make it particularly difficult to comply with all the obligations referred to
in Articles 226 or 230.";
(b) paragraph 2 is deleted;
10858/10 CHA/NC/hc 28
DG G I EN
30. (c) paragraph 3 is replaced by the following:
"3. The simplified arrangements provided for in paragraph 1 shall not be applied
where invoices are required to be issued pursuant to points (2) and (3) of
Article 220(1) or where the taxable supply of goods or services is carried out
by a taxable person who is not established in the Member State in which the
VAT is due or whose establishment in that Member State does not intervene in
the supply within the meaning of Article 192a and the person liable for the
payment of VAT is the person to whom the goods or services are supplied.";
(26) Article 243 is replaced by the following:
"Article 243
1. Every taxable person shall keep a register of the goods dispatched or transported by
him, or on his behalf, to a destination outside the territory of the Member State of
departure but within the Community for the purposes of transactions consisting in
valuations of those goods or work on them or their temporary use as referred to in
points (f), (g) and (h) of Article 17(2).
10858/10 CHA/NC/hc 29
DG G I EN
31. 2. Every taxable person shall keep accounts in sufficient detail to enable the
identification of goods dispatched to him from another Member State, by or on
behalf of a taxable person identified for VAT purposes in that other Member State,
and used for services consisting in valuations of those goods or work on
those goods.";
(27) Article 246 is deleted;
(28) in Article 247, paragraphs 2 and 3 are replaced by the following:
"2. In order to ensure that the requirements laid down in Article 233 are met, the
Member State referred to in paragraph 1 may require that invoices be stored in the
original form in which they were sent or made available, whether paper or electronic.
Additionally, in the case of invoices stored by electronic means, the Member State
may require that the data guaranteeing the authenticity of the origin of the invoices
and the integrity of their content, as provided for in Article 233, also be stored by
electronic means.
10858/10 CHA/NC/hc 30
DG G I EN
32. 3. The Member State referred to in paragraph 1 may lay down specific conditions
prohibiting or restricting the storage of invoices in a country with which no legal
instrument exists relating to mutual assistance similar in scope to that provided for in
Directive 2010/24/EU and Regulation (EC) No 1798/2003 or to the right referred to
in Article 249 to access by electronic means, to download and to use.";
(29) in Section 3 of Chapter 4 of Title XI, the following Article is inserted:
"Article 248a
For control purposes, and as regards invoices in respect of supplies of goods or services
supplied in their territory and invoices received by taxable persons established in their
territory, Member States may, for certain taxable persons or certain cases, require
translation into their official languages. Member States may, however, not impose a
general requirement that invoices be translated.";
10858/10 CHA/NC/hc 31
DG G I EN
33. (30) Article 249 is replaced by the following:
"Article 249
For control purposes, where a taxable person stores, by electronic means guaranteeing
on-line access to the data concerned, invoices which he issues or receives, the competent
authorities of the Member State in which he is established and, where the VAT is due in
another Member State, the competent authorities of that Member State, shall have the right
to access, download and use those invoices.";
(31) in Article 272(1), the second subparagraph is replaced by the following:
"Member States may not release the taxable persons referred to in point (b) of the first
subparagraph from the invoicing obligations laid down in Sections 3 to 6 of Chapter 3 and
Section 3 of Chapter 4.".
10858/10 CHA/NC/hc 32
DG G I EN
34. Article 2
Transposition
1. Member States shall adopt and publish, by 31 December 2012 at the latest, the laws,
regulations and administrative provisions necessary to comply with this Directive. They
shall forthwith communicate to the Commission the text of those provisions.
They shall apply those provisions from 1 January 2013.
When Member States adopt those provisions, they shall contain a reference to this
Directive or be accompanied by such a reference on the occasion of their official
publication. Member States shall determine how such reference is to be made.
2. Member States shall communicate to the Commission the text of the main provisions of
national law which they adopt in the field covered by this Directive.
10858/10 CHA/NC/hc 33
DG G I EN
35. Article 3
Entry into Force
This Directive shall enter into force on the twentieth day following that of its publication in the
Official Journal of the European Union.
Article 4
Addressees
This Directive is addressed to the Member States.
Done at Brussels,
For the Council
The President
10858/10 CHA/NC/hc 34
DG G I EN