The Law dated 22 December 2023 has been published into the Memorial A838 on 22 December 2023. Starting 1st January 2024, it amends the article 61.3 of the VAT law and extends the scope of the reverse charge mechanism to the supply of the following goods, where the value of the transaction exceeds EUR 10,000 excluding tax:
Where the value of the goods invoiced does not exceed EUR 10,000 excluding tax without taking into account any subsequent reduction in remuneration, VAT is payable by the taxable person supplying the goods. Above this threshold, VAT is payable by the taxable customer.
This law, based on the non-mandatory provisions of Article 199 bis of Directive 2006/112/EC, is a new measure to combat VAT fraud.
To follow this news, do not hesitate to subscribe to our LinkedIn page https://lu.linkedin.com/company/vat-solutions
For a tailor-made service on this subject, please contact us at email@example.com