Finance Act for 2021: analysis of VAT measures and actions to be anticipated

French Finance Act for 2021 (Law n°2020-1721 of 29 December 2020) provides certain measures regarding VAT and indirect taxes.

1. Implementation of VAT Group scheme (article 162 of the Finance act for 2021) – entry into force as of January 1st
2. VAT and E-commerce: postponement on July 1st, 2021 (article 51 of the Finance Act) – measures applicable as of July 1st, 2021
3. Clarification of the VAT rules applicable to complex transactions (article 44 of the Finance Act) – measures applicable as of January 1st, 2021
4. Mandatory BtoB electronic invoicing – A government ordinance on the practical implementation expected by September 2021 (article 195 of the Finance Act for 2021)
5. Clarification on sanctions applicable to VAT fraud (article 170 of the Finance Act for 2021)

Source: taxand.com