Taxation:
Ideas on how to ensure a simpler, more effective and more fraud-proof VAT system tailored to the Single Market in the EU have been outlined in a paper published by the European Commission.
The aim is to create a “definitive VAT regime”, to replace the temporary and out-dated VAT system, which has been in place in the EU for over 2 decades. The future VAT regime should better meet the needs of businesses in the Single Market and be less susceptible to fraud than today’s system is.
For further information see the press release (IP/14/1216), the frequently asked questions (MEMO/14/607) and the Commission’s working document (see Action No 25).
