- The European Commission has issued a reasoned opinion to Belgium, Bulgaria, Greece, Spain and Romania for failing to fully transpose Directive 2022/542 on VAT rates, missing the 31 December 2024 deadline.
- This Directive enables Member States to apply reduced or zero VAT rates on essential items such as food, pharmaceuticals and medical products, to promote affordability and accessibility.
- The five countries have two months to respond and correct the transposition shortcomings; if they fail to do so, the Commission may refer them to the Court of Justice and seek financial penalties.
Source ec.europa.eu
The European Commission warns Romania and asks it to fully transpose the VAT Rates Directive
- Reasoned Opinions Issued: The European Commission has issued reasoned opinions to Romania, Belgium, Bulgaria, Greece, and Spain for failing to align their national laws with Directive 2022/542, which allows for reduced VAT rates on essential products.
- Compliance Deadline and Consequences: These countries must fully transpose the Directive by December 31, 2024, or face potential referrals to the Court of Justice of the European Union, which may lead to financial sanctions.
- Additional Directives Addressed: The Commission also issued opinions regarding non-compliance with Directive 2020/285, which simplifies VAT obligations for small enterprises, requiring the same countries to respond within two months or risk further legal action.
Source Profit.ro
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