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Observations on the “new” flexibility recognized for the preferrential VAT rates

The value added tax rewrites its taxation methods, introducing ample flexibiliy in the determination of rates, especially subsidized, to respond promptly and effectively to extraordinary events, such as the recent Covid-19 pandemic, and to adapt to the changed and current historical and social needs, such as the implementation of the Green Dealand the spread of digitization. The new rules will bring greater freedom to Member States, also in view of the long-awaited final VAT system, allowing them to quickly and independently adopt decisions relating to their tax policy. The downside of the reform will concern both the assault on diligence by representatives of the various production sectors in search of new tax breaks and the possible increase in administrative burdens and regulatory uncertainty for companies operating cross-border.

Source Rivista Diritto Tributario

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