In its last meeting  on 10 May, the European Commission proposed to update EU VAT rules to ensure the uniform tax treatment of all types of vouchers across all Member States. Vouchers represent a market of more than € 52 billion per year in the European Union.


Differences in national VAT rules on vouchers lead to serious market inefficiencies leading companies to face double taxation problems that create difficulties in expanding their business across borders. The new rules seek to redress this situation.
Under the proposed new rules, the different categories of vouchers would be clearly defined, along with their VAT treatment. This would enable uniform treatment of transactions involving vouchers across Europe. The proposal includes provisions on defining vouchers for VAT purposes and identifying when VAT is due on vouchers (i.e. at point of sale or redemption). It also includes rules for vouchers passing through distribution chains and general means of payment. The new rules will enter into force on 1 January 2015.
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