CFE Tax Advisers Europe has published a statement addressed to the European Commission highlighting issues with the lack of harmonization in VAT reporting within the European Union. The VAT system within the European Union should be moving towards a system of increased harmonization to facilitate the single market. However, when it comes to the collection of VAT and accounting obligations, businesses are increasingly being faced by a series of new reporting and payment requirements which are being introduced by Member States on a non-harmonized basis.
CFE Tax Advisers Europe view this as an area where measures should be adopted on a more harmonized basis as a matter of urgency and welcomes the European Commission’s proposals to hold a Fiscalis seminar on transaction based VAT reporting and its recognition of the importance of this issue. The CFE believes this issue require consideration on a pan-European basis as soon as possible.
Source Tax Advisers Europe
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