VAT: new rules for single-purpose and multi-purpose vouchers (gift cards)
The 2019 Finance Act transposes Directive (EU) 2016/1065 on the VAT treatment of vouchers (new Article 256 ter of the General Tax Code). A single-purpose voucher, for which the place of supply and the VAT due are known when it is issued, is taxed at each transfer. A multi-purpose voucher is taxed only when the goods or services are actually supplied, on the basis of the consideration paid for the voucher.
Measure originators
European origin
EUNo official estimate found for this measure.
Measure impact
Affects businesses that issue, distribute or accept vouchers (gift cards, purchase vouchers, gift boxes). Applies to vouchers issued from 1 January 2019. When VAT becomes due now depends on the type of voucher.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Possible referral to Constitutional Council
Décision de conformité / censure partielle
President of the Republic signature
Publication au Journal officiel
National Assembly has the final say
Si échec CMP
Council of Ministers
Validation interne