Our Services / 2010 VAT Package Readiness Services

VAT - New VAT Rules on Services

New Value Added Tax (VAT) rules related to services have gone in effect 2010 in the European Union. North American companies should immediately assess how the new rules might affect their business.

The new European VAT rules that took effect in 2010 made significant changes on "place of supply" of services to businesses (B2B) and consumers (B2C), regulations for cross-border VAT refunds, the administrative cooperation, and the exchange of information between EU Member States. These new rules will affect North American companies that sell or purchase services in Europe, and can result in tremendous savings on their business expenses over previous years. Individual EU countries are able to interpret and apply the new rules differently regarding how some services performed are treated from a VAT point of view in their respective countries. It is extremely important to get these facts before the transactions take place.

Service Industries Most Benefited by the New European Union 2010 VAT Rules:

• Computer Software Services
• Shipping
• Warranty Services
• Installation
• Maintenance
• Equipment Rental
• Entertainment
• Event Management & Trade Shows
• IT Consulting
• Outsourced Call Centers
• Clinical Research in Life Sciences
• Repair Services

EuroVAT will assist in assessing the 2010 VAT rules and with the VAT registration and management. This may ultimately save the company 15-25% of the cost of doing business in EU.