Dear MDBC members,
The rise of the digital economy has forced policy makers all around the globe to deal with some of the fundamental issues of taxation. There has been an avalanche of tax proposals to further facilitate cross border trade but also to ensure that all companies: traditional and digital are paying their fair share. A few of the recent proposals of the European commission will have severe impact on any and all web shops, online platforms, and market places that sell or facilitate sales in or to the EU.
The first package VAT modernization rules for cross border e – Commerce will be introduced as per 1 July 2021. Under these new rules, digital market places will be responsible for collecting VAT on the sale of goods to EU consumers. Businesses may consider using the one – stop – shop declarative (OSS) system for their reporting obligations. Under the second proposal (DAC7), platform operators would be required to collect and verify the identification of sellers and to report annually to the EU Member State in which they have registered. Should this proposal be adopted, this would be applicable from 1 January, 2022.
During this webinar, the international tax and trade experts of Loyens and Loeff (in conjunction with industry experts), will discuss the following:
* Framework of the new EU VAT rules;
* What actions need to be taken, by when, by Asia based web shops, online platforms, logistics service providers, and market places;
* What to expect from the reporting requirements under DAC7.
The webinar will close off with a panel discussion with industry experts from leading logistics providers and regional online platforms sharing their practical experience.
Date: Monday 3 May
Time: 16:00 – 17:00 hrs
Platform: Zoom (TBC)
* Barbara Voskamp LL.M. Specialization in International Tax (Partner ASEAN, Loyens & Loeff Singapore)
* Bart Heijnen PhD, Specialization in Complex VAT Issues (Tax Advisor, Loyens & Loeff Amsterdam)
* Prof. Dennis Weber (Professor of European Corporate Tax Law, University of Amsterdam of Counsel, Loyens & Loeff Amsterdam)
To register, please click here.
Please note that MDBC is NOT handling registrations for this event.
With best regards,
+603 – 2722 8335