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Feedback reported to the Malta Chamber of SMEs on Black Friday results indicates mixed outcomes....
VAT – Directive on reverse charge mechanisms
12 October 2009
The Commission adopted on 29th September, a Directive for an optional and temporary application of the reverse charge mechanism to supplies of certain goods and services, aiming to fight carousel fraud in a consistent manner across the European Union.
Carousel fraud is traditionally organised with small goods of high value. Recently, several Member States reported cases of carousel fraud on greenhouse gas emission allowances.
The Directive will allow the application of a reverse charge mechanism on the supply of five categories of particularly fraud sensitive goods and services, namely: computer chips, mobile phones, precious metals, perfumes and greenhouse gas emission allowances.
This can be done until 31st December 2014, for a minimum period of 2 years, to three categories of the list, of which a minimum of two must be for categories of goods.
For a copy of the Directive you can contact Abigail Mamo @ GRTU
