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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Corporate Tax

Date & Time
  • event Date

    Tuesday, August 17, 2021

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$247.00
CPE
ALL

This course will address the new European Value Added Tax (VAT) rules effective July 1, 2021, and the registration and compliance obligations for U.S. companies conducting business in the European Union (EU). Our panel will explain how U.S. businesses selling goods, digital products, events, and other services to the EU and the UK - can make sure VAT does not end up as a cost.

Faculty

Britta Eriksson
President and CEO
Euro VAT Refund, Inc

Ms. Eriksson's consulting clients on VAT matters include Fortune 500 companies, the U.S. Commerce Department, Revenue Canada agency, and European embassies and trade offices in the U.S.

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Matthew Wills
International Tax Managing Director
BDO USA

Mr. Wills leads the International Indirect Tax Services group within BDO’s International Services practice. With more than 15 years of experience, he helps multinational corporations  proactively manage their international Value Added Tax/Goods and Services Tax (VAT/GST) footprint and compliance obligations.

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Description

Significant changes are being implemented this year to the EU VAT regime - impacting multinational businesses. The new rules are meant to decrease the amount of VAT fraud, and to level the playing field for companies in the EU. Some of the new requirements related to e-commerce include a new reporting threshold, new VAT registration liabilities for the companies outside the EU, and the elimination of duty and VAT free imports on all goods. It also will make marketplaces (such as Amazon and eBay) liable for VAT on all sales within the EU and UK.

The largest change is e-commerce and businesses that sell goods and digital products and services to private customers in the EU. U.S. companies may unknowingly have filing and remittance obligations in the EU and the UK. Tax advisers in the U.S. working with multinational companies need to understand VAT fundamentals, including registration, reporting, and remittance obligations.

Listen as our panel of VAT experts review 2021 VAT rules impacting companies providing goods and services in the EU.

Outline

  1. European Union and UK VAT: an overview
  2. Requirements
  3. July 1, 2021 new EU e-commerce rules
  4. Virtual events and other digital services
  5. Planning opportunities

Benefits

The panel will cover these and other critical issues:

  • When does online selling create a filing or registration requirement?
  • How does the new One-Stop-Shop (OSS) simplify filing requirements?
  • What are the new VAT concerns for online sellers offering low priced goods?
  • When are marketplace facilitators or web portals responsible for EU VAT?
  • What strategies can businesses use to reduce VAT and streamline reporting in the EU?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Decide when electronic commerce may require VAT registration in the EU and the UK
  • Determine steps to facilitate EU VAT reporting and remittance
  • Ascertain differences between VAT requirements before and after July 2021
  • Identify when companies with no physical presence in the EU may be liable for VAT

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of international taxation including residency determination, foreign entity classifications, application of treaty benefits, as well as GILTI, Subpart F, and the related Section 250 deductions.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).