Among the VAT changes are new forms for VAT returns; a reduced VAT rate of 5% on books, newspapers, and other periodicals whether in paper or digital format; and revised penalties for noncompliance with VAT rules.
There are also new conditions for a VAT exemption on the intra-Community supply of goods; rules concerning proof of an exempt supply of goods to another EU Member State; chain-supply measures; and special treatment of call-off stock—measures that are part of the EU VAT “quick fix” regime.
Source KPMG
