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Major EU VAT Reform Plan Expected March 23

by Ulrika Lomas, Tax-News.com, Brussels

21 March 2016


The European Union intends to release an Action Plan to comprehensively reform value-added tax rules in the European Union on March 23, an EU official has confirmed.

The official said the plan will review current VAT rules to put in place "a single fraud-proof EU VAT area with simpler and more modern rules." It will also modernize the framework for VAT rates and give member states greater freedom to set their own reduced rates, the official said.

According to the official, the Plan will include measures to tackle VAT fraud, in particular by addressing fraud that manipulates the VAT-free treatment of intra-EU trade; simplification measures for businesses, to ease the burden and complexity of complying with EU rules; and new rules for the digital era.

TAGS: environment | compliance | VAT rates | tax | business | VAT legislation | VAT cross-border transactions | legislation | trade | European Union (EU) | VAT compliance matters | Europe

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