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This chapter considers the system under which VAT is accounted for and paid to the tax authorities. It covers the rights and obligations of taxable persons and other persons obliged to account for VAT. The rules relating to the issue and content of VAT invoices and their amendment and storage are reviewed, as are the rules relating to the submission, content and adjustment of VAT returns and recapitulative statements. The extent to which persons may be released from their accounting obligations is also considered.

This chapter deals with the extensive arrangements for cooperation between tax authorities in the Member States. Those arrangements cover the provision and exchange of information, assistance in investigations, and claims recovery.

This chapter considers the criteria for determining when a taxable transaction generates a liability to account for VAT and the different rules applicable to different types of transaction.

This chapter considers the application of VAT to charities and local authorities. It deals with the use of trading subsidiaries and the distinctions between activities that are outside the scope of VAT, activities that are taxed and activities that are exempt.

This chapter considers the various exemptions from VAT, the general rules for interpreting an exemption provision, the conditions to which exemption is subject, and the direct effect of an exemption. It also covers the option to tax for some exemptions and the derogations from exemption that apply.

This chapter considers the geographical scope of the harmonised system of VAT and outlines its material scope.

This chapter deals with the application of VAT to financial services, including insurance and reinsurance transactions. Different types of financial services are examined from the perspective of VAT and the exemptions from VAT of various financial transactions are analysed.