As of Jan. 1, 2010, law firms with offices in the EU that make taxable supplies of legal services to business customers in other EU countries have new monthly value-added tax (“VAT”) reporting obligations.
'VAT Package' Will Impact Law Firms
As of Jan. 1, 2010, law firms with offices in the EU that make taxable supplies of legal services to business customers in other EU countries have new monthly value-added tax reporting obligations. Failure to comply with these monthly reporting obligations can result in severe penalties.
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