The European Commission VAT expert group (VEG) has adopted an opinion on the Commission’s VAT action plan, published in April.
The European Commission VAT expert group (VEG) has adopted an opinion on the Commission’s VAT action plan, published in April. The plan outlined proposals for a single EU VAT area; short-term measures for exchange of information to tackle fraud; greater flexibility over reduced rates; and simplified rules for e-commerce, including an SME VAT package.
The VEG supports the aim of a definitive system for a single EU VAT area, based on the destination principle for taxing cross-border business-to-business transactions. It warns against individual member states adopting specific approaches, such as a generalised reverse-charge system, stating that this would ‘put at risk the development of a coherent, harmonised and fraud proof VAT system’. See http://bit.ly/1jUHQGj.
The European Commission VAT expert group (VEG) has adopted an opinion on the Commission’s VAT action plan, published in April.
The European Commission VAT expert group (VEG) has adopted an opinion on the Commission’s VAT action plan, published in April. The plan outlined proposals for a single EU VAT area; short-term measures for exchange of information to tackle fraud; greater flexibility over reduced rates; and simplified rules for e-commerce, including an SME VAT package.
The VEG supports the aim of a definitive system for a single EU VAT area, based on the destination principle for taxing cross-border business-to-business transactions. It warns against individual member states adopting specific approaches, such as a generalised reverse-charge system, stating that this would ‘put at risk the development of a coherent, harmonised and fraud proof VAT system’. See http://bit.ly/1jUHQGj.
