On 20/12/2019, the European Commission published the final wording of its Explanatory Notes for measures to harmonise and simplify certain VAT rules (“Quick Fixes”), which the EU member states were to implement in their national legislation with effect from 01/01/2020. As we informed you in the Newsletter for 3Q 2019, Slovakia has fulfilled this obligation.
The purpose of the Explanatory Notes is to explain the new rules regarding VAT in detail, primarily with respect to:
- call-off stock,
- chain transactions,
- changes involving proof of transport of goods to another EU member state for the purposes of the exemption for intra-Community transactions.
The Explanatory Notes have so far only been published in English. By the end of March 2020, however, they should also be available in all other official languages of the EU member states.
