EU Court of Justice on VAT
EU Court of Justice eases formal invoice requirements for the reclaim of local input VAT. Weidema van Tol gives a brief overview regarding on the simplification of reclaiming local input VAT.
Under specific requirements, the EU tax authorities shouldn’t refuse the addressee of invoices’ right to reclaim local input VAT - on the basis that an invoice doesn’t comply with all of the formal invoicing requirements - when all of the substantive conditions for the reclaim of local input VAT are met.
In line with that the EU tax authorities also shouldn’t only honor the taxpayer's fundamental right of the reclaim of local input VAT under specific requirements, however, they also shouldn’t inflict the penalty of assessing interest for late payment of taxes.
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