The lack of common VAT (value added tax) compliance requirements has led to a highly fragmented and complex VAT system in the EU that is less resilient to fraud. Companies have to comply with an increasingly difficult tax compliance environment and a patchwork of obligations across the EU Member States. Technology-driven tools can be used to simplify the EU’s VAT system, maximising efficiency for all parties involved and allowing more time for tax administrations to focus on reducing the VAT gap. These were some key ideas discussed at BusinessEurope’s VAT in the Digital Age event held on 18 April. Speakers included Patrice Pillet from the European Commission, representatives from the Swedish Presidency and VAT practitioners of large and small & medium-sized enterprises.
Source Business Europe
