The European Commission has launched a consultation on plans to reform the VAT rules for financial and insurance services, following the closure of its ‘roadmap’ feedback period in November 2020. The consultation seeks to address complexities in the rules which, the Commission notes, have not ‘kept pace with the development of new services in the sector’. The consultation will feed into a review of the principal VAT Directive (2006/112/EC). Comments are invited by 3 May 2021.
The European Commission has launched a consultation on plans to reform the VAT rules for financial and insurance services, following the closure of its ‘roadmap’ feedback period in November 2020. The consultation seeks to address complexities in the rules which, the Commission notes, have not ‘kept pace with the development of new services in the sector’. The consultation will feed into a review of the principal VAT Directive (2006/112/EC). Comments are invited by 3 May 2021.
