As part of its efforts to simplify the EU VAT rules the European Commission has launched an initiative to revise the EU VAT rules for financial services and insurance (FSI). These rules are criticized for being complex, difficult to apply and not having kept pace with the development of new (digital) services. In newly published meeting notes of the Group of the Future of VAT it has been confirmed that the FSI VAT revision is unlikely to arrive before 2023.
Source Deloitte
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