In general, imports in the EU are charged with customs duties and VAT unless they are specifically exempt. VAT Directives and Customs Regulations provide for an exemption for the importation of consignments with a negligible value. The low value consignment relief for VAT (hereinafter 'LVCR')...

The European Commission has requested EY to perform an "Assessment of the application and impact of the VAT exemption for importation of small consignments". The European Commission seeks to evaluate to which extent the VAT exemption for importation of small commercial and private consignments...

This study compares three different categories of taxes on wealth and the transfer of wealth: - Inheritance and gift; - Real estate and land; - Net-wealth. Inheritances are taxed in 20 Member States and gifts in 21. One of the main characteristics of both inheritance and gift taxes is the...

Regulation (EC) 764/2008 ('the Mutual Recognition Regulation'), laying down procedures relating to the application of certain national technical rules to products lawfully marketed in another Member State and repealing Decision No 3052/95/EC, aims at strengthening the functioning of the internal...

A surge of new initiatives, including a proposal for a Late Payments Regulation, highlights the renewed emphasis that public authorities across the EU are placing on reducing late payments. However, to truly demonstrate their commitment, governments must address a type of delayed payment they...

A surge of new initiatives, including a proposal for a Late Payments Regulation, highlights the renewed emphasis that public authorities across the EU are placing on reducing late payments. However, to truly demonstrate their commitment, governments must address a type of delayed payment they...

Any sale of goods or services is accompanied by an invoice of some form. Through the invoice, a seller and buyer exchange information on the quantity, nature, price and (often) payment due date for the goods or services sold. Invoices therefore play a crucial role in facilitating the sale and...

This study aims to assess the feasibility of providing a unique access point for competent authorities involved in the fight against money laundering and tax evasion to relevant asset registers in the EU Member States. The study first defines a list of assets relevant for money laundering and...