EU-level voucher system

As of 1 January 2019 stricter and much more complicated rules will regulate the voucher system, because the European Union has adopted a directive aimed at harmonising and clarifying the rules on the VAT treatment of vouchers – informed MAZARS. For instance the directive sets out to reduce the risk of mismatches in national tax rules leading to double taxation or non-taxation. It also defines single-purpose vouchers and multi-purpose vouchers and sets rules to determine the taxable value of transactions in both cases.