On January 30, 2020, the United Kingdom of Great Britain and Northern Ireland (UK) withdrew from the European Union. Pursuant to the provisions of the Agreement on the withdrawal of the UK and the European Atomic Energy Community (OJ EU No L 29 of 31 January 2020 p. 7 (“Withdrawal Agreement”)), a transitional period would … Read more
To the extent that a deferral of payment has been granted for import value-added tax (VAT), a revised due date has been in effect since December 1, 2020. In concrete terms, this means that the due date for imports for the December deferment period will be postponed uniformly from January 16, 2021 to February 26, … Read more
By letter III C 5 – S 7427 – d/19/10001 :001 v. 28.10.2020, DStR 2020, 2433, the Federal Ministry of Finance has amended Sec. 18e.1 VAT Application Decree (UStAE) and thus altered the procedure for confirmation requests for foreign VAT identification numbers provided. The changes will apply to all confirmation questions after December 31, 2020. … Read more
As of August 1, 2020, tariffs on almost all goods exported from the EU to Vietnam will be abolished. The reason for this is the entry into force of the trade agreement between the EU and Vietnam. In addition, business in Vietnam is also becoming easier for European companies. They can now invest on the … Read more