VAT information asymmetries in the context of intra-EU trade in goods

Abstract

ABSTRACT In this contribution, I explore the legal implications associated with information deficits relating to intra-Community (EU) trade in goods. The ultimate purpose of this contribution is to establish to what extent taxable persons forming part of an intra-Community supply chain should be confronted with legal implications such as VAT assessments and fines whenever they are subject to an information asymmetry which prevents them from applying VAT in line with the legal requirements. Firstly, in Section 2 of this contribution, I define the concept of ‘information asymmetry’ and apply it to the context of (EU) VAT. In Section 3, I explore the legal implications of information asymmetries in intra-Community trade in goods, and further address the question to what extent the taxable person should be confronted with them. Finally, in Section 4, I provide explore various remedies that may contribute to the structural reduction of information asymmetries in practice.