Registration Time: 13.15
Sessions Time: 13.30 - 16.45 including a 15-minute break
Speaker: Mr Kenneth Cremona
Venue: Online webinar

Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

BACKGROUND INFORMATION:

As from 1st January 2020, new rules entered in force as a measure to harmonise and simplify existing regulations for VAT and the consequences of trade between the EU Member States. Also colloquially known as ‘Quick Fixes’, they ultimately form part of the European Commission's action plan towards a destination-based VAT regime. The Quick Fixes are divided into four main concepts: - Call-off Stock - Attribution of Transport in Chain transactions - VAT identification number requirement for exempt Intra-community supplies - Harmonised documentation as proof of transport for exempt Intra-community supplies
These updates will have considerable implications for businesses dealing with Business to Business transactions and intra-community supplies.

OBJECTIVES OF THE SESSION:

- A refresher on the basic VAT concepts, as preparation for the delivery.
- Determining which of the Quick Fixes would impact current supply chains
- Ascertaining business benefits that may be derived by the new regulation changes.
- Understanding the existing processes that need to be altered to be compliant with the regulation changes. Such as, IT Software changes.
- Planning insights on the next steps that need to be taken to prepare holistically for change

TOPICS FOR THE SESSION:

1. Refresher on core principles of VAT
2. Introduction on Quick Fixes
3. Analysing individually the four Quick Fixes, i.e.: a. Call-off Stock b. Attribution of Transport in Chain transactions c. VAT identification number requirement for exempt ICS d. Harmonised documentation as proof of transport exempt ICS
4. Concluding Remarks & Discussions

TARGET AUDIENCE

Accountants, tax lawyers, tax practitioners, as well as business owners and self-employed persons, particularly those dealing with intra-community supplies.

SPEAKER'S PROFILE

Kenneth Cremona graduated with a Master in Accountancy from the University of Malta in 2015. Kenneth joined RSM Malta in 2016, initially working on Income Tax Compliance dealing with clients established in multiple industries including Gaming, Immovable Property, Investments, Pharmaceuticals and Retail. During 2019, he specialised in VAT advisory and was promoted to a Supervisory role within the firm. Kenneth is also a CPA warrant holder and received the Professional Certificate in Taxation issued by the Malta Institute of Taxation in 2017.

EVENT CPE COMPETENCES

3 Hours Core

TERMS AND CONDITIONS

Terms and conditions apply.

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