On 7 December 2021, Member States meeting in the Economic and Financial Affairs Council, also known as the ECOFIN Council, reached agreement on a proposal to amend the VAT Directive with regard to reduced rates. In line with the strategic objectives of the European Union, they mainly decided on the introduction of reduced rates for the green economy and digitalisation. On the other hand, Member States will now only be authorized to apply reduced VAT rates to a limited number of pre-selected goods and services.
Source KPMG
Latest Posts in "European Union"
- EU Parliament Approves CBAM Reforms: New 50-Ton Threshold, Delayed Certificate Purchases to 2027
- ViDA: Transforming EU VAT with Harmonized e-Invoicing and Real-Time Reporting
- EU Court Ruling on Arcomet: Transfer Pricing Adjustments Pose VAT Risks for Companies
- Italian Tax Authorities Remove Non-EU Companies from VIES for Failing New VAT Guarantee Requirements
- Comments on ECJ C-121/24: Non-payment of declared VAT does not constitute VAT fraud
