The EU Parliament’s economic and monetary affairs (ECON) committee has tabled its report containing amendments to the Commission’s proposal for creation of a definitive EU VAT system, in advance of the plenary debate and vote in Strasbourg on 2/3 October.
The EU Parliament’s economic and monetary affairs (ECON) committee has tabled its report containing amendments to the Commission’s proposal for creation of a definitive EU VAT system, in advance of the plenary debate and vote in Strasbourg on 2/3 October. The committee published its draft report on 3 May.
The committee report supports the anti-fraud and simplification objectives of the Commission’s October 2017 proposal for a definitive EU VAT system, while suggesting a number of amendments.
The proposal is based around four fundamental principles, or ‘cornerstones’, to be introduced by 2022, including the concept of the ‘certified taxable person’, similar to authorised economic operators in the customs context. In addition, four short-term ‘quick fixes’ are proposed, aimed at improving the day-to-day functioning of the current system from 2019. The Commission published a further proposal for the necessary technical amendments to the principal VAT directive on 25 May.
The ‘cornerstones’ are:
The ‘quick fixes’, mainly limited to certified taxable persons, are:
Among the amendments put forward in the report, the committee calls for:
The EU Parliament’s economic and monetary affairs (ECON) committee has tabled its report containing amendments to the Commission’s proposal for creation of a definitive EU VAT system, in advance of the plenary debate and vote in Strasbourg on 2/3 October.
The EU Parliament’s economic and monetary affairs (ECON) committee has tabled its report containing amendments to the Commission’s proposal for creation of a definitive EU VAT system, in advance of the plenary debate and vote in Strasbourg on 2/3 October. The committee published its draft report on 3 May.
The committee report supports the anti-fraud and simplification objectives of the Commission’s October 2017 proposal for a definitive EU VAT system, while suggesting a number of amendments.
The proposal is based around four fundamental principles, or ‘cornerstones’, to be introduced by 2022, including the concept of the ‘certified taxable person’, similar to authorised economic operators in the customs context. In addition, four short-term ‘quick fixes’ are proposed, aimed at improving the day-to-day functioning of the current system from 2019. The Commission published a further proposal for the necessary technical amendments to the principal VAT directive on 25 May.
The ‘cornerstones’ are:
The ‘quick fixes’, mainly limited to certified taxable persons, are:
Among the amendments put forward in the report, the committee calls for: