Last week the Spanish Tax Authorities published the Draft Bill for modifying the VAT Law and the VAT Regulation with the purpose to include the simplification measures related with the intracommunity delivery of goods known as “VAT Quick Fixes 2020“.
The main objective of these new measure is to harmonize and simplify the trade of goods between countries of the EU.
The main modifications refer to the following:
(i) Simplification in the transfer of goods to a call off stock. The supplier will not have to register for VAT purposes in the EU Member State of arrival of the goods,
(ii) A specific regulation for intra-EU chain transactions will be included,
(iii) In order to apply the VAT exemption to intracommunity supplies of goods obtaining a valid VAT number that the customer provides to the supplier will be a material requirement instead of a formal requirement.
These new measures will enter into force on January 1st 2020.