he European Parliament’s (EP) Plenary approved on 9 March its position, prepared by MEP Marek Belka (S&D/Poland), on EU VAT rates reform. The position was adopted by an impressive majority of 612 votes in favour, 14 against and 71 abstentions.
In December 2021, the Council reached an agreement on a proposal to update EU rules on VAT rates. Given fundamental differences between the original 2018 EC proposal on which the EP was initially consulted, and the text unanimously agreed in the Council, the latter decided to re-consult the EP.
With the EP’s opinion adopted, the Council agreement can now be implemented into EU law.
Source Accountancy Europe
