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European Union

The future of VAT

19 March 2020
66 views
1 min read
At the center of Western Europe’s state funded health care system, public infrastructure, and state support is VAT. The tax helps the various state governments pay for the myriad of services they offer to their citizens and residents. It’s a critical building block that helps maintain the social structure in place, and while many levies are being attacked by those who wish to remove additional taxation, VAT tax is protected and stands tall as the choice of tax by European governments.

The European Commission envisions EU states working together to prevent fraud. They point to the €150 billion Vat Gap between the amount due and the amount collected, and believe that only through harmonization can member states close that gap. However, member states want to protect their independent tax sovereignty, and aren’t interested in consolidating the system.

With the European Commission at odds with member states, it has people wondering what the future of VAT looks like in Europe.

Source: way2vat.com

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