EU Industry Update

The broadcast landscape in Europe is extremely varied, from both a cultural and a technological perspective. From a cultural perspective, European viewers show different programming tastes and language preferences. From a technological perspective, different countries have different broadcast infrastructures.

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The Confederation of British Industry (CBI) Argues for Continued Involvement Post-Brexit In European Regulation Bodies

The opinion of the CBI, informed by consultations with its members over the past 18 months, is that developing a future close relationship between UK and EU regulatory regimes is essential to make Brexit a success. It concludes that it is important that the UK is “…involved in the policy-making, monitoring and enforcement of rules that affect it. EU bodies provide a crucial venue for this to take place, as well as a way of UK industry to learn from best practice across borders.”

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EU VAT reform challenges

On 4 October, the European Commission (EC) announced a fundamental reform of the EU VAT regime to help combat an estimated €50billion of annual VAT fraud. 3 major changes to the B2B EU VAT regime 1. 2019 Introducing four ‘Quick Fixes’ to ameliorate the existing VAT regime on international B2B transactions, including: ~ Harmonisation across the states of the treatment of call off stock. ~ Evidence required to prove the transport of goods across borders. ~ Clarifications on rules for determining treatment of transport in chain supplies with an intermediary supplier (Triangulation). ~ Requirement to verify VIES-status of VAT numbers of foreign customers 2. 2019 Introduction of Certified Tax Person (CTP) certification for tax payers which have a long-term clean VAT record with their national authorities. The first three of four above reforms will be limited to CTPs. 3. 2022 Switching from the origin-based VAT regime to destination-based. This includes charging VAT in the country of the customer. CTPs will be exempted from taxing in their home countries – instead using the existing reverse charge system. Challenges to reforms However, these far-reaching reforms are highly ambitious, and face several challenges. Timetable – space to debate? The details of the reforms...