On 29th of October a first Council Regulation, laying down implementing measures for Directive 77/388/EEC on the common system of value added tax, based on article 29 bis of the Sixth VAT Directive is published. The aim of this Regulation is to ensure a more uniform application of value added tax systems in the member state and by this way guarantee a proper functioning of the internal market.
The regulation merely confirms earlier decisions of the VAT Committee. However since a regulation is binding and directly applicable in all member states, uniformity of application will be much better ensured by a Regulation than it is by means of decisions of the VAT Committee.
This Regulation lays down measures for the implementation of 11 articles of the Sixth VAT Directive more precise the articles 4, 6, 9, 11, 13, 15, 18, 26b, 26c, 28a and 28b of Directive 77/388/EEC, and of Annex L thereto.
The regulation explains interpretations concerning taxable persons and taxable transactions, the place of taxable transactions, taxable amount, exemptions, the special measures for electronic services, the definition of transport means, intracommunity supplies and acquisitions. Read more.

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