BDO: The European Commission’s proposals regarding the EU customs reform
The proposals of the EU customs reform include the creation of a new EU customs authority and the development of e-commerce. They contain important changes in taxation that are in line with the needs of the digital age and aim to modernize the VAT system, reduce the burden on businesses and fight against VAT fraud. The proposals still need unanimous EU approval, but it is worthwhile for the concerned businesses to familiarize themselves with them in Hungary as well and assess the potential effects.
In the publication of BDO Netherlands, a member of the BDO international network, we review the European Commission’s proposals regarding the EU customs reform, knowledge of which is important for all companies involved in e-commerce.
On May 17, 2023, the European Commission presented proposals for the comprehensive reform of the EU’s customs union, according to the website of BDO Netherlands. The proposals include the creation of a new EU customs authority to oversee the EU customs data center and “a more modern approach to electronic commerce”.
The customs proposals also include some important VAT-related changes, which build on the amendments to the July 2021 e-commerce VAT package and are in line with the VIDA (VAT in the Digital Age) proposals, which its aim is to modernize and transform the EU VAT system in accordance with the conditions of the digital era, reduce the VAT compliance burden for businesses, and increase the action against VAT fraud and thereby reduce the VAT deficit.
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