Questions and Answers: Value Added Tax (VAT)
|
|
- Sylvia Atkins
- 5 years ago
- Views:
Transcription
1 MEMO/11/874 Brussels, 6 December 2011 Questions and Answers: Value Added Tax (VAT) 1. General background What is VAT? VAT is a consumption tax, charged on most goods and services traded for use or consumption in the EU. It is levied on the "value added" to the product at each stage of production and distribution. The "value added" means the difference between the cost of inputs into the product / service and the price at which it is sold to the consumer. VAT is charged when VAT-registered (taxable) businesses sell to other businesses (B-2-B) or to the final consumer (B-2-C). VAT is intended to be "neutral" in that businesses are able to reclaim any VAT that they pay on goods or services. Ultimately, the final consumer should be the only one who is actually taxed. Businesses are given a VAT identification number and have to show the VAT charged to customers on the invoices. How does the current EU VAT system work? Currently, a transitional system is in place for VAT on intra-eu transactions. Under this system, when it comes to cross-border sales between businesses, VAT is collected in the Member State of destination (i.e. where the goods are sent to or where the recipient of services is established), in line with the rate and conditions of that country. This means that the supplier of goods or services does not charge VAT, but the recipient is responsible for paying it. Both the supplier and recipient must conform to special reporting obligations. It should be noted that there are many exceptions to these rules. For example, VAT on transport is paid where the transport occurs and VAT on cultural events occurs where the show takes place. The rules for intra-eu transactions differ from purely domestic transactions, where the supplier charges VAT and is responsible for paying it to the Treasury. For goods or services provided to private individuals (i.e. business to customer), the VAT is paid by the supplier in the Member State where the sale occurs or where the supplier is established. However, there are certain supplies for which different rules apply e.g. distance sales, new means of transport, certain services etc. Why is there still a transitional system in place for VAT? In 1967, the Council undertook a legal and political commitment to introduce a VAT system tailored to the Single Market and operated across Member States in the same way as within a single country. To complete the internal market by 1993, the Commission put forward proposals for taxation in the country of origin, with a harmonised rate structure, and a clearing mechanism for the redistribution of VAT receipts to the Member State where consumption takes place.
2 However, given the lack of consensus and the need for goods to be able to pass freely within the EU while still allowing Member States to collect the tax revenue, the Council instead adopted a transitional system. The transitional system has enabled controls of goods at the EU s internal borders to be abolished whilst allowing tax to be collected in the Member State of destination at the rate and under the conditions of that country. This system was only supposed to last for 4 years, but Member States have been unable to come to agreement on a more permanent system based on taxation in the Member State where the goods originate. Today's Communication concludes that agreement on a system based on the principle of origin is politically unattainable. Therefore, given the need for a stable and definitive system, the Commission will work for a properly functioning VAT system based on the principle of destination. Why does the VAT system need to be reviewed? Value added tax (VAT) is a major source of revenue for national budgets, and is likely to be proportionally even more so as the economic crisis and aging populations take their toll on other taxes (such as labour and capital). Many Member States have recently increased their VAT rates as part of their consolidation efforts. Consumption taxes are considered, in general, to be a more stable revenue source, and more growth-friendly, than certain other taxes such as profits and income. However, the VAT system currently in place is not well-fitted for today s society. It was designed over 40 years ago, when services, modern technologies and globalisation had a far less prominent role in the economy than they do today. There are numerous shortcomings in the current VAT system which create obstacles to the Internal Market, cause huge administrative burdens for businesses and prevent Member States from benefiting from the true potential of this tax. To give an example, shared service centres or central European inventory did not exist as business concepts in While the fundamental idea behind VAT is to have a broad-based, globally applied consumption tax, the wide and divergent use of reduced rates and exemptions by Member States mean that only part of final consumption is being taxed at the standard rate. Moreover, new questions have arisen; such what the VAT treatment should be for products available in both digital and physical formats. Finally, the current VAT system is relatively vulnerable to fraud. Taking into account the above weaknesses, the VAT system needs to be reviewed to ensure that it is as efficient, robust and flexible as it can possibly be. A reform of the VAT system could greatly contribute to delivering on the EU s 2020 Strategy, strengthening the Internal Market and supporting Member States budget consolidation. Is there a common EU VAT rate? In the EU, there is a minimum standard VAT rate of 15%, above which Member States are free to set their own national VAT rates. Member States decide how to spend the revenue they receive from VAT receipts, except for a small percentage of this total which is paid towards the EU budget. 2
3 2. Revenue How much revenue is raised through VAT every year in the EU? In 2009, total VAT receipts in the EU were around EUR 783 billion. VAT receipts accounted for 21 % of the national tax revenues of EU Member States (including social security contributions), a rise of 13% since It is thus a major source of revenue for national budgets and in many Member States it is the main source. VAT receipts represented in 2009 on average 7.4% of the GDP of a Member State, a figure that has increased by almost 10% from How much of this revenue goes towards the EU budget? VAT is part of the own resources of the EU budget, and Member States pay a small percentage of their total VAT receipts to the EU. Currently, this contribution from Member States is based on rate 0.3% of the national harmonised VAT base, with temporary reduced rates over of 0.225% for Austria, 0.15% for Germany and 0.1% for the Netherlands and Sweden. In 2010 it represented EUR 14 billion. Does the Communication look at revising the role of VAT as an "own resource" to the EU budget? The Communication on the future of VAT is about making the VAT system as a whole simpler, more efficient and more robust, to ensure better quality revenues for whatever purpose they are then used for. A separate exercise is currently underway regarding VAT's contribution to the EU budget own resources. The current VAT own resource is very complex and does not affect all Member States uniformly. The Commission therefore proposed on 9 December to replace it with a simpler VAT own resource that would be more transparent and fairer to all. The idea is to apply a single EU rate of 1 percentage point on all the goods and services currently subject to the standard rate in all EU Member States. The new VAT resource would not be a parallel system to the national VAT system. The rate applicable for the new resource will not be added to the current national VAT rates, but rather integrated into them. Therefore, it would not have an impact on consumers or on businesses dealing with VAT. Will the reformed EU VAT system raise more revenue? The Communication points out that broadening the tax base, restricting the use of reduced rates and reducing the scope for fraud could indeed increase revenues for the Member States. 3
4 3. What would the reformed VAT system look like? Will the minimum EU VAT rate change? Under the current VAT system, a minimum standard rate of 15% has been set, with regular review of this rate. Member States are free to set their own rate at or above this minimum. This minimum rate helps to avoid substantial variations in Member States VAT rates which could lead to distortions of competition between high and low rate countries and put the smooth functioning of Single Market at risk. There are no plans at the moment to change this rule. What is envisaged with regard to reduced VAT rates? Under EU rules, Member States have the option of applying one or two reduced rates to a restricted list of goods and services. The reduced rate cannot be less than 5%, and the list of eligible goods and services must be strictly interpreted. Some examples of goods and services eligible for a lower rate include: foodstuffs, medicines, medical equipment for the disabled, books on all physical means of support, newspapers, periodicals, passenger transport, admission to shows, theatres, museums, etc. In addition, there is a multitude of derogations on the application of zero rates, superreduced rates (lower than 5%), and reduced rates for products or services not usually eligible (table or rates). This makes the whole system complicated and open to misinterpretation. Many stakeholders pointed out in the consultation process that differences in VAT rates lead to additional compliance costs. An economic evaluation carried out by the Commission also confirmed that the use of reduced rates is often not the most suitable instrument for pursuing policy objectives, particularly for ensuring redistribution to poor households or encouraging the consumption of a good that is deemed socially desirable. In fact, the existing application of reduced rates translates into significant subsidies. The current economic and financial context, which demands a strong fiscal consolidation of national budgets, is a further reason for limiting the use of reduced rates, rather than increasing the standard rates. Nonetheless, the potential benefits of a restricted use of reduced rates, if rationally defined and applied, are worth considering too. A review of the VAT rates structure seems therefore to be justified. The Communication sets out the following guiding principles for such a review: Abolition of those reduced rates which constitute an obstacle to the proper functioning of the internal market; Abolition of reduced rates on goods and services for which the consumption is discouraged by other EU policies; Similar goods and services should be subject to the same VAT rate and progress in technology should be taken into account in this respect; The Commission will launch this assessment in 2012 and will subsequently make proposals along those lines after ample consultation with stakeholders and Member States by the end of
5 How should the rules change with regard to VAT exemptions? What is exempt and why? Examples of current exemptions from tax include certain activities in the public interest (medical care, school education, non-profit making organisations etc.), certain insurance and financial services, and passenger transport services depending on the means of transport used. Reasons behind the exemptions vary. They include the fact that at the time the exemptions were granted, the activities were only carried out by public authorities; or the taxable base was too difficult to determine in order to charge VAT. However, as the market and nature of many of the services have evolved, the justification for certain exemptions have become questionable. A recent economic study 1 highlighted the shortcomings of the current rules namely, their lack of neutrality, the distortions of competition that they create and their complexity. Phasing out existing exemptions could have a significant impact on the cost of public goods or social security. Therefore, the Commission advocates a gradual approach if such a phase out is to be considered. The Commission will prepare a proposal which will concentrate on activities with a greater degree of private sector involvement and a heightened risk of distorted competition. The Commission will also propose a more neutral and simpler VAT framework for passenger transport activities. What is the principle of taxation at destination? Taxation at destination means that the supplies are in principle taxed in the Member State where the goods arrive or where the recipient of the services is located. Compared to the origin system, the main feature is that VAT revenues accrue directly in the Member State of consumption according to its domestic rates, exemptions and conditions. Why has the Commission decided to abandon the idea of taxation in the country of origin, and work on a destination-based system? A wide consultation process and discussions with Member States confirmed that taxation at origin i.e. an EU VAT system functioning in the same way as domestic systems, remains politically unachievable. Therefore, in order to ensure that progress can be made in creating a stable and improved VAT system for the EU, work will now be focussed on creating a properly functioning destination-based system
6 4. Benefits for citizens and businesses How will citizens benefit from the reformed EU VAT system? Broadening the tax base, limiting the use of reduced rates and reducing fraud will generate new revenue streams or, alternatively, will enable a significant reduction in the current standard rate without affecting overall revenue. A more efficient VAT system therefore could reduce the VAT finally paid by the citizens if the Member States decided to reduce their standard rate in a revenue-neutral way. Moreover, the financial crisis has created a two-fold challenge for Member States: to foster sustainable economic growth and to consolidate public finances. As recognised in the Annual Growth Survey 2012, taxation policies have a key role to play in meeting these challenges. Consumption taxes such as VAT are considered to be "growth friendly", and therefore a more effective, efficient and fairer EU VAT system will play an important role in helping the EU to emerge from the financial crisis in a strong and sustainable manner. How will companies benefit from the reformed EU VAT system? Businesses that want to operate cross-border within the EU face additional VAT obligations and must apply special VAT rules which do not affect businesses working only at domestic level. This creates higher compliance costs and administrative burdens for businesses working in more than one Member State, and can act as a deterrent for businesses (in particular SMEs) from taking full advantage of the Internal Market. The reformed EU VAT system will improve the situation by ensuring that doing business across the EU is as simple and as safe as engaging in purely domestic activities. It will reduce the VAT compliance costs and administrative burdens for cross-border activities, harmonise rules and obligations, allow businesses to deal with only one tax administration and re-adapt to modern business models. Among the first measures envisaged for a more business-friendly VAT are expanding the one-stop-shop approach for cross border transactions; standardizing VAT declarations; and providing clear and easy access to the details of all national VAT regimes through a central web-portal. Broadening the tax base and limiting the use of reduced rates will also create a level playing field for business across the EU and strengthen the Internal Market for them. How will the reformed VAT system help promote growth in the EU? First, it will help increase revenues, or allow Member States to maintain the current revenue level while reducing the tax burden on citizens. Second, it will remove obstacles that currently exist for businesses engaged in, or wishing to engage in, cross-border activity. For SMEs in particular, the current VAT system can be a complete deterrent to expanding within the EU. A simpler, more harmonised VAT system, more adapted to modern business models and new technologies, would create a better environment for business and enterprise and a more attractive market for investment. Third, consumption taxes are recognised as more growth friendly than some other taxes (such as labour or corporate taxes). A modernised, efficient VAT system would make it all the easier for Member States to shift taxes away from more distortive areas towards consumption, thereby enhancing the contribution that their tax policies make to growth. 6
7 5. Mitigating risks How much is lost every year because of VAT fraud? Although, due to the very nature of fraud, it is difficult to put a precise figure on VAT losses due to fraud, it is thought to be several billion euro each year. In a study on the EU VAT gap 2, the Commission compared what Member States actually got in VAT receipts with what they could have expected. While this VAT gap covers more than just fraud (also legal avoidance and insolvencies), the study set the gap at billion in 2006 within the EU-25. This represents an average of 12% of the net theoretical liability although several Member States were above 20%. VAT fraud does not only affect the financial interests of the Member States and the EU. It also has an impact on honest businesses which find themselves unable to compete on a level playing field in those sectors which are affected by a significant amount of VAT fraud. What has the Commission done to address the problem of VAT fraud? In 2008, the Commission set out a coordinated strategy to improve the fight against VAT fraud in the EU. This Strategy included a series of targeted measures, including plans for legislative proposals (which have now all been put forward), and a longerterm reflection on how to fight the problem. One key element was to see how administrative cooperation between tax administrations could be improved, and to establish a network of national officials to detect and combat new cases of crossborder VAT fraud. This network Eurofisc is now operational and working to coordinate data exchange and establish an early warning mechanism against fraud. What further measures to tackle VAT fraud does the Commission foresee? First, the Commission intends to monitor the full implementation of the abovementioned Anti-Fraud Strategy, making sure that all instruments in place against fraud are functioning to full potential. It will examine ways to extend the automated access to information, and will assess whether anti-fraud mechanisms, such as Eurofisc, need to be strengthened. In 2014, it will report on whether further action is needed to strengthen or complement these measures. In addition, the Commission will embark on a number of new anti-fraud projects. For example, it will explore the possibility of setting up a EU cross border audit team, attached to Eurofisc, composed of experts from national tax authorities, to facilitate and improve multilateral controls. It will propose a quick reaction mechanism in 2012 which will allow Member States to take immediate national measures to stop certain fraudulent practice. As the success of any anti-fraud measure depends directly on the administrative capacity of the national tax authorities, the Commission will intensify its monitoring of the efficiency and effectiveness of the tax administrations of the Member States. It will also encourage the exchange of best practices in combating fraud in high risk sectors. 2 DG Taxation and Customs Union, Report 21 September 2009, Study to quantify and analyse the VAT gap in the EU-25 Member States, Reckon LLP 7
8 More information is available at: For details on VAT rates per Member State, see See IP/10/ IP/11/1508 8
COUNCIL OF THE EUROPEAN UNION. Brussels, 7 December /11 FISC 164
COUNCIL OF THE EUROPEAN UNION Brussels, 7 December 2011 18288/11 FISC 164 COVER NOTE from: Secretary-General of the European Commission, signed by Mr Jordi AYET PUIGARNAU, Director date of receipt: 6 December
More informationCOMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE
EUROPEAN COMMISSION Brussels, 4.10.2017 COM(2017) 566 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE On the follow-up to
More informationDefinitive VAT-system for Cross-Border Trade
POSITION PAPER 21 December 2017 Definitive VAT-system for Cross-Border Trade KEY MESSAGES 1 2 3 We welcome the European Commission s commitment to the creation of a single VAT-area based on maximum simplicity,
More informationEuropean Economic and Social Committee OPINION. European Economic and Social Committee
European Economic and Social Committee ECO/442 VAT reform package (I) OPINION European Economic and Social Committee Communication from the Commission to the European Parliament, the Council and the European
More informationVAT and the Digital Economy
VAT and the Digital Economy Overview of Policy Donato Raponi General Context Digital Single Market Strategy one of the Top 10 objectives of the Juncker Commission. VAT identified by business as one of
More informationCouncil of the European Union Brussels, 12 August 2016 (OR. en)
Council of the European Union Brussels, 12 August 2016 (OR. en) 11674/16 FISC 128 COVER NOTE From: date of receipt: 13 July 2016 To: Subject: European Economic and Social Committee General Secretariat
More informationCOMMISSION STAFF WORKING DOCUMENT. Accompanying document to the GREEN PAPER. on the future of VAT
EN EN EN EUROPEAN COMMISSION Brussels, 1.12.2010 SEC(2010) 1455 final COMMISSION STAFF WORKING DOCUMENT Accompanying document to the GREEN PAPER on the future of VAT Towards a simpler, more robust and
More informationPublic Consultation on the Definitive VAT system for Business to Business (B2B) intra-eu transactions on goods.
Contribution ID: f9885e24-630d-46d3-9e3f-c0658d9e11a5 Date: 20/03/2017 11:31:41 Public Consultation on the Definitive VAT system for Business to Business (B2B) intra-eu transactions on goods. Fields marked
More informationREFORM OF RULES ON EU VAT
REFORM OF RULES ON EU VAT MARIA ZENOVIA GRIGORE Associate Professor PhD, Faculty of Economics and Business Administration, Nicolae Titulescu University of Bucharest mgrigore@univnt.ro MARIANA GURĂU Lecturer
More information28/06/2018-TAX3 HEARING ON VAT FRAUD WRITTEN REPLIES TO QUESTIONS
28/06/2018-TAX3 HEARING ON VAT FRAUD WRITTEN REPLIES TO QUESTIONS Presentation by the European Commission, Ms Maite Fabregas Fernandez, Director Indirect Taxation and Tax Administration in the Directorate
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax Administration Value Added Tax VEG N O 057
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax Administration Value Added Tax VAT Expert Group 14 th meeting 19 September 2016 taxud.c.1(2016)5532134 EN Brussels,
More informationProposal for a COUNCIL DIRECTIVE. amending Directive 2006/112/EC as regards rates of value added tax. {SWD(2018) 7 final} - {SWD(2018) 8 final}
EUROPEAN COMMISSION Brussels, 18.1.2018 COM(2018) 20 final 2018/0005 (CNS) Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC as regards rates of value added tax {SWD(2018) 7 final} - {SWD(2018)
More informationWorking Paper on VAT issues
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Brussels, 9 January 2014 TAXUD D1/JT Digit/005/2014 EXPERT GROUP ON TAXATION OF THE DIGITAL ECONOMY Working Paper on VAT issues Meeting
More informationProposal for a COUNCIL DIRECTIVE
EUROPEAN COMMISSION Brussels, 18.1.2018 COM(2018) 21 final 2018/0006 (CNS) Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC on the common system of value added tax as regards the special
More informationCOMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT. Accompanying the document. Proposal for a Council Directive
EUROPEAN COMMISSION Brussels, 23.10.2013 SWD(2013) 426 final COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT Accompanying the document Proposal for a Council Directive amending
More information13 TH MEETING 2 MAY 2016
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value added tax VAT Expert Group 13 th meeting 2 May 2016 taxud.c.1(2016)3386352 VAT EXPERT GROUP
More informationVAT FOR ARTISTS IN AN INTERNATIONAL CONTEXT
Tax Advisers VAT FOR ARTISTS IN AN INTERNATIONAL CONTEXT Dr. Dick Molenaar 2017 Rotterdam, the Netherlands www.allarts.nl VAT FOR ARTISTS IN AN INTERNATIONAL CONTEXT 1. INTRODUCTION Activities of artists
More informationSummary Report Responses to the public consultation on the special scheme for small enterprises under the VAT Directive
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value added tax Brussels, 11 Apr. 17 taxud.c.1(2017) 2171823 Summary Report Responses to the
More informationEuropean Commission Green Paper on the Future of VAT Towards a simpler, more robust and efficient VAT system
27 May 2011 European Commission Directorate-General for Taxation and Customs Union VAT and other turnover taxes Unit C1 Rue Joseph II 79, Office J79 05/093 B-1049 Brussels By email: TAXUD-VATgreenpaper@ec.europa.eu
More informationCOMMISSION OF THE EUROPEAN COMMUNITIES. Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
EN EN EN COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 13.10.2008 COM(2008) 640 final 2008/0194 (COD) Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on cross-border payments
More informationCommissioner Algirdas Šemeta EU Commissioner for Taxation, Customs, Anti-Fraud and Audit
Commissioner Algirdas Šemeta EU Commissioner for Taxation, Customs, Anti-Fraud and Audit Speech to Australian Taxation Industry Roundtable 2 December 2013 1 ATI ROUNDTABLE SPEECH Ladies and Gentlemen,
More informationWhy not VAT on intra-eu supplies of goods and services? Christian Amand September 18th 2018
Why not VAT on intra-eu supplies of goods and services? Christian Amand September 18th 2018 1957: how to combine turnover taxes levied a each stage of the production with a future internal market? (Campet
More informationREPORT ON THE OUTCOME OF THE CONSULTATION ON ''SIMPLIFICATION OF VAT COLLECTION PROCEDURES IN RELATION TO CENTRALIZED CUSTOMS CLEARANCE"
Ref. Ares(2011)164053-15/02/2011 EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration VAT and other turnover taxes Brussels, January 2011 KV/am taxud.c.1
More informationDelegations will find attached the abovementioned opinion. Please note that other language versions should be available at :
Council of the European Union Brussels, 17 October 2017 (OR. en) 13306/17 FISC 227 COVER NOTE From: To: Subject: General Secretariat of the Council Delegations OPINION of the European Economic and Social
More informationTAX EVASION AND AVOIDANCE: Questions and Answers
EUROPEAN COMMISSION MEMO Brussels, 6 December 2012 TAX EVASION AND AVOIDANCE: Questions and Answers See also IP/12/1325 Tax Evasion Why has the Commission presented an Action Plan on Tax fraud and evasion?
More informationCouncil of the European Union Brussels, 20 June 2018 (OR. en)
Council of the European Union Brussels, 20 June 2018 (OR. en) Interinstitutional Files: 2017/0251 (CNS) 2017/0249 (NLE) 2017/0248 (CNS) 10335/18 FISC 266 ECOFIN 638 NOTE From: To: No. Cion doc.: Subject:
More informationProposal for a COUNCIL DIRECTIVE
EUROPEAN COMMISSION Brussels, 25.5.2018 COM(2018) 298 final 2018/0150 (CNS) Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC on the common system of value added tax as regards the period
More information10472/18 JC/NC/jk ECOMP.2.B. Council of the European Union Brussels, 14 September 2018 (OR. en) 10472/18. Interinstitutional File: 2017/0248 (CNS)
Council of the European Union Brussels, 14 September 2018 (OR. en) Interinstitutional File: 2017/0248 (CNS) 10472/18 FISC 276 ECOFIN 667 LEGISLATIVE ACTS AND OTHER INSTRUMTS Subject: COUNCIL REGULATION
More informationCOMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL. Building a fair, competitive and stable corporate tax system for the EU
EUROPEAN COMMISSION Strasbourg, 25.10.2016 COM(2016) 682 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL Building a fair, competitive and stable corporate tax system
More informationOpinion Statement FC 9/2017. European Commission Proposals on the way towards a single European VAT area
Opinion Statement FC 9/2017 on European Commission Proposals on the way towards a single European VAT area Prepared by the CFE Fiscal Committee Submitted to the European Institutions on 1 December 2017
More informationPublic consultation on the functioning of the administrative cooperation and fight against fraud in the field of VAT
Public consultation on the functioning of the administrative cooperation and fight against fraud in the field of VAT Fields marked with * are mandatory. 1. ntroduction Context of the consultation As announced
More informationGROUP ON THE FUTURE OF VAT
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Value added tax Group on the Future of VAT 12th meeting 7 November 2014 taxud.c.1(2014)4525416
More informationINCEPTION IMPACT ASSESSMENT
TITLE OF THE INITIATIVE LEAD DG RESPONSIBLE UNIT AP NUMBER LIKELY TYPE OF INITIATIVE INCEPTION IMPACT ASSESSMENT Re-launch of the Common Consolidated Corporate Tax Base (CCCTB) DG TAXUD.D DATE OF ROADMAP
More informationSpeech at the International tax symposium "Dynamics of International Tax Competition: Opportunity or Threat?"
Speech at the International tax symposium "Dynamics of International Tax Competition: Opportunity or Threat?" Tax policy coordination for more growth and employment the EU agenda Introduction Ladies and
More informationhttps://dm.eesc.europa.eu/eescdocumentsearch/pages/opinionsresults.aspx?k=eco%2f419
Council of the European Union Brussels, 5 October 2017 (OR. en) Interinstitutional Files: 2016/0336 (CNS) 2016/0337 (CNS) 12848/17 FISC 210 COVER NOTE From: To: Subject: General Secretariat of the Council
More informationImproving the business environment for SMEs through effective regulation
POLICY NOTE SME Ministerial Conference 22-23 February 2018 Mexico City Improving the business environment for SMEs through effective regulation Parallel session 1 1 Background information This paper was
More informationCOMMISSIONER ALGIRDAS ŠEMETA TAXATION, CUSTOMS, STATISTICS, AUDIT AND ANTI- FRAUD
COMMISSIONER ALGIRDAS ŠEMETA TAXATION, CUSTOMS, STATISTICS, AUDIT AND ANTI- FRAUD SPEECH AT THE EUROPEAN SERIOUS & ORGANISED CRIME CONFERENCE 2013 WINNING THE FIGHT 28 th February 2013 KEYNOTE SPEECH Ladies
More informationGeneralised Reverse Charge Mechanism
POSITION PAPER 28 th March 2017 Generalised Reverse Charge Mechanism KEY MESSAGES 1 2 3 BusinessEurope fully endorses the fight against VAT-fraud. VAT fraud has a negative impact on government revenues,
More informationConsultation on Review of existing VAT legislation on public bodies and tax exemptions in the public interest
Consultation on Review of existing VAT legislation on public bodies and tax exemptions in the public interest Brussels,25 April 2014 1. Introduction RESPONSE TO CONSULTATION Ref: 2014/AD/P6639 Identification
More informationSpeech: Priorities for EU tax policy
EUROPEAN COMMISSION Algirdas Šemeta Commissioner responsible for Taxation and Customs Union, Audit and Anti-fraud Speech: Priorities for EU tax policy Irish Parliament Committee on Finance / Dublin 10
More informationCOMMISSION OF THE EUROPEAN COMMUNITIES. Proposal for a COUNCIL DIRECTIVE
COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 7.11.2007 COM(2007) 677 final 2007/0238 (CNS) Proposal for a COUNCIL DIRECTIVE amending VAT Directive 2006/112/EC of 28 November 2006 on the common system
More informationReasoned Opinion of the House of Commons. Concerning a draft Regulation on a Common European Sales Law for the European Union 1
Reasoned Opinion of the House of Commons Submitted to the Presidents of the European Parliament, the Council and the Commission, pursuant to Article 6 of Protocol (No 2) on the Application of the Principles
More informationFair taxation of the digital economy
Contribution ID: 13311b6b-0b4c-4bf0-a3d9-c6b94f5ab400 Date: 02/01/2018 21:27:35 Fair taxation of the digital economy Fields marked with * are mandatory. 1 Introduction The objective of the initiative is
More informationEUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION WITHDRAWAL OF THE UNITED KINGDOM AND EU RULES IN THE FIELD OF VALUE ADDED TAX
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Brussels, 27 March 2019 REV1 - Replaces the Notice to stakeholders published on 11 September 2018 NOTICE TO STAKEHOLDERS WITHDRAWAL OF
More informationTax harmonisation versus tax competition in Europe
SPEECH/05/624 László Kovács European Commissioner for Taxation and Customs Tax harmonisation versus tax competition in Europe Conference «Tax harmonisation and legal uncertainty in Central and Eastern
More informationEU VAT Forum. Consolidated report on Cooperation between Member States and Businesses in the field of e-commerce/modern commerce
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Tax administration and fight against tax fraud taxud.c.4(2018) 1507602 12.03.2018 EU VAT Forum
More informationThe Changing Face of MTIC VAT Fraud
Page 1 De Voil Indirect Tax Intelligence /2012/Issue 199, December/Articles/The Changing Face of MTIC VAT Fraud - De Voil Indirect Tax Intelligence, 199 (28) De Voil Indirect Tax Intelligence De Voil Indirect
More informationCOUNCIL OF THE EUROPEAN UNION. Brussels, 6 July 2012 (OR. en) 11257/12 UEM 212 ECOFIN 586 SOC 563 COMPET 431 ENV 527 EDUC 204 RECH 267 ENER 296
COUNCIL OF THE EUROPEAN UNION Brussels, 6 July 2012 (OR. en) 11257/12 UEM 212 ECOFIN 586 SOC 563 COMPET 431 V 527 EDUC 204 RECH 267 ER 296 LEGISLATIVE ACTS AND OTHER INSTRUMTS Subject: COUNCIL RECOMMDATION
More informationProposal for a COUNCIL DIRECTIVE. amending Directive 2006/112/EC, as regards rates of value added tax applied to books, newspapers and periodicals
EUROPEAN COMMISSION Brussels, 1.12.2016 COM(2016) 758 final 2016/0374 (CNS) Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC, as regards rates of value added tax applied to books, newspapers
More informationStéphane Buydens VAT Policy Advisory Consumption Taxes Unit OECD 2, rue André Pascal Paris France. 24 September 2012
Stéphane Buydens VAT Policy Advisory Consumption Taxes Unit OECD 2, rue André Pascal 75775 Paris France 24 September 2012 Comments on OECD International VAT/GST Guidelines Draft Commentary on the International
More information11/12/ Eyes Ltd. The VAT package. Major changes to VAT from 1 January 2010
The VAT package Major changes to VAT from 1 January 2010 The European Council has published a new package of measures (known as the VAT Package) setting out significant changes to the rules on the place
More informationVAT FRAUD a concern for Tax Administrations but also for Taxpayers
VAT FRAUD a concern for Tax Administrations but also for Taxpayers Donato Raponi European Commission 2014 CESI Conference Brussels, 9-10 October 2014 1 Présentation Powerpoint In this world nothing is
More informationDelegations will find attached the abovementioned opinion. Please note that other language versions should be available at :
Council of the European Union Brussels, 6 November 2017 (OR. en) 13925/17 FISC 247 COVER NOTE From: To: Subject: General Secretariat of the Council Delegations OPINION of the European Economic and Social
More information4th MEETING of the High Level Expert Group on Monitoring Simplification for Beneficiaries of ESI Funds Gold-plating
4th MEETING of the High Level Expert Group on Monitoring Simplification for Beneficiaries of ESI Funds Gold-plating 1. The members of the High Level Group agree that gold-plating practices are one of the
More informationWORKING PAPER. Brussels, 15 February 2019 WK 2235/2019 INIT LIMITE ECOFIN FISC
Brussels, 15 February 2019 WK 2235/2019 INIT LIMITE ECOFIN FISC WORKING PAPER This is a paper intended for a specific community of recipients. Handling and further distribution are under the sole responsibility
More informationExecutive summary 20 September 2010
Study on the feasibility of alternative methods for improving and simplifying the collection of VAT through the means of modern technologies and/or financial intermediaries Executive summary 20 September
More informationCOMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL. A Roadmap towards a Banking Union
EUROPEAN COMMISSION Brussels, 12.9.2012 COM(2012) 510 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL A Roadmap towards a Banking Union EN EN COMMUNICATION FROM THE COMMISSION
More informationProposal for a COUNCIL DIRECTIVE
EUROPEAN COMMISSION Brussels, 11.12.2018 COM(2018) 819 final 2018/0415 (CNS) Proposal for a COUNCIL DIRECTIVE amending Council Directive 2006/112/EC of 28 November 2006 as regards provisions relating to
More information* DRAFT REPORT. EN United in diversity EN. European Parliament 2016/0370(CNS)
European Parliament 2014-2019 Committee on Economic and Monetary Affairs 2016/0370(CNS) 23.5.2017 * DRAFT REPORT on the proposal for a Council directive amending Directive 2006/112/EC and Directive 2009/132/EC
More informationEUROPEAN COMMISSION Secretariat-General
EUROPEAN COMMISSION Secretariat-General REFIT Platform Brussels, 8 February 2016 STAKEHOLDER SUGGESTIONS - STATISTICS - DISCLAIMER This document contains suggestions from stakeholders (for example citizens,
More informationREPORT ON THE OUTCOME OF THE CONSULTATION ON ''INTRODUCTION OF A MECHANISM FOR ELIMINATING DOUBLE IMPOSITION OF VAT IN INDIVIDUAL CASES''
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration VAT and other turnover taxes Brussels, 24 October 2007 TAXUD/D1/EWS/mav D(2007) 15925 REPORT
More informationRecommendations on what the EC can do to promote uptake of EFSI by the social services sector
Recommendations on what the EC can do to promote uptake of EFSI by the social services sector Commissioned, monitored and guided in 2015 by EASPD Researched and Written in 2015 by Diesis Coop and Sefea
More information14257/16 JB/df 1 DG G 2B
Council of the European Union Brussels, 9 November 2016 (OR. en) 14257/16 FISC 190 ECOFIN 1023 OUTCOME OF PROCEEDINGS From: General Secretariat of the Council On: 9 November 2016 To: Delegations No. prev.
More informationOBSTACLES TO THE EUROPEAN INTERNAL MARKET IN THE FIELD OF VALUE-ADDED TAX
OBSTACLES TO THE EUROPEAN INTERNAL MARKET IN THE FIELD OF VALUE-ADDED TAX Executive Summary In the everyday experience of our member companies, the Internal Market has not reached its full potential. EU
More informationThe Commission s Study on Company
HOME STATE TAXATION VS. COMMON BASE TAXATION jurisdictions by an automatic formula, and taxed at the national tax rates, which member states will continue to establish themselves. A comprehensive solution
More informationCouncil of the European Union Brussels, 22 December 2015 (OR. en)
Conseil UE Council of the European Union Brussels, 22 December 2015 (OR. en) PUBLIC 15517/15 LIMITE FISC 198 ECOFIN 1002 NOTE From: To: Subject: Incoming Dutch Presidency Permanent Representatives Committee/Council
More informationCouncil of the European Union Brussels, 10 April 2017 (OR. en) Mr Jeppe TRANHOLM-MIKKELSEN, Secretary-General of the Council of the European Union
Council of the European Union Brussels, 10 April 2017 (OR. en) Interinstitutional File: 2017/0078 (NLE) 8066/17 FISC 74 ECOFIN 269 PROPOSAL From: date of receipt: 7 April 2017 To: No. Cion doc.: Subject:
More informationProposal for a COUNCIL DIRECTIVE
EUROPEAN COMMISSION Brussels, 19.12.2017 COM(2017) 783 final 2017/0349 (CNS) Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC on the common system of value added tax, with regard to the
More informationProposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
EUROPEAN COMMISSION Brussels, 26.6.2013 COM(2013) 472 final 2013/0222 (COD) C7-0196/13 Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on fees payable to the European Medicines
More informationINCEPTION IMPACT ASSESSMENT. A. Context, Subsidiarity Check and Objectives
INCEPTION IMPACT ASSESSMENT TITLE OF THE INITIATIVE LEAD DG RESPONSIBLE UNIT AP NUMBER LIKELY TYPE OF INITIATIVE Initiative on introducing effective disincentives for advisors, promoters and enablers of
More informationCOMMISSION STAFF WORKING PAPER. Executive summary of the IMPACT ASSESSMENT. Accompanying document to the COMMISSION RECOMMENDATION
EUROPEAN COMMISSION Brussels, 18.7.2011 SEC(2011) 907 final COMMISSION STAFF WORKING PAPER Executive summary of the IMPACT ASSESSMENT Accompanying document to the COMMISSION RECOMMENDATION on access to
More informationProposal for a COUNCIL DIRECTIVE
EUROPEAN COMMISSION Brussels, 4.10.2017 COM(2017) 569 final 2017/0251 (CNS) Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC as regards harmonising and simplifying certain rules in the value
More informationMarkets in Financial Instruments Directive (MiFID): Frequently Asked Questions (see IP/07/1625)
MEMO/07/439 Brussels, 29 October 2007 Markets in Financial Instruments Directive (MiFID): Frequently Asked Questions (see IP/07/1625) 1. What is the "MiFID"? The MiFID is the Markets in Financial Instruments
More informationCOMMISSION OF THE EUROPEAN COMMUNITIES COMMUNICATION FROM THE COMMISSION TO THE COUNCIL AND THE EUROPEAN PARLIAMENT
EN EN EN COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 2.7.2009 COM(2009) 325 final COMMUNICATION FROM THE COMMISSION TO THE COUNCIL AND THE EUROPEAN PARLIAMENT on the VAT group option provided for
More informationCOMMISSION STAFF WORKING PAPER SUMMARY OF THE IMPACT ASSESSMENT. Accompanying document to the
EUROPEAN COMMISSION Brussels, 24.5.2011 SEC(2011) 613 final COMMISSION STAFF WORKING PAPER SUMMARY OF THE IMPACT ASSESSMENT Accompanying document to the Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT
More informationCONSULTATION DOCUMENT CMU ACTION ON CROSS-BORDER DISTRIBUTION OF FUNDS (UCITS, AIF, ELTIF, EUVECA AND EUSEF) ACROSS THE EU
EUROPEAN COMMISSION Directorate-General for Financial Stability, Financial Services and Capital Markets Union FINANCIAL MARKETS Asset management CONSULTATION DOCUMENT CMU ACTION ON CROSS-BORDER DISTRIBUTION
More informationSolvency II is a huge step forward for policyholder protection and the implementation of a true single market for insurers and reinsurers in the EU.
Interview with Manuela Zweimueller, Head of Policy Department of EIOPA European Insurance and Occupational Pensions Authority with Svijet Osiguranja by Natasa Gajski November 2016 1. The implementation
More informationAnalysis of the impact of the split payment mechanism as an alternative VAT collection method. Final Report Executive Summary. Written by Deloitte
Analysis of the impact of the split payment mechanism as an alternative VAT collection method Final Report Executive Summary Written by Deloitte December 2017 EUROPEAN COMMISSION Directorate-General for
More informationBrussels, 18 March 2010 COUNCIL OF THE EUROPEAN UNION 7614/10. Interinstitutional File: 2009/0009 (CNS) FISC 26
COUNCIL OF THE EUROPEAN UNION Brussels, 18 March 2010 Interinstitutional File: 2009/0009 (CNS) 7614/10 FISC 26 OUTCOME OF PROCEEDINGS of: ECOFIN Council on: 16 March 2010 No. Cion prop.: 5985/09 FISC 13
More informationStefan Lehner Director European Commission Directorate-General for Budget Presentation for the HLG on OR 23 March 2015
An own resource based on VAT Stefan Lehner Director European Commission Directorate-General for Budget Presentation for the HLG on OR 23 March 2015 1 Why VAT? In general, Value added tax (VAT) is visible,
More informationWays to Offset Regressive Impact of Consumption Tax Hikes
Legal and Tax Report 26 June 2012 (No. of pages: 11) Ways to Offset Regressive Impact of Consumption Tax Hikes On the regressive impact of consumption tax, refundable tax credits, and tax rate reductions
More informationProposal for a COUNCIL IMPLEMENTING REGULATION
EUROPEAN COMMISSION Brussels, 11.12.2018 COM(2018) 821 final 2018/0416 (NLE) Proposal for a COUNCIL IMPLEMENTING REGULATION amending Implementing Regulation (EU) No 282/2011 as regards supplies of goods
More informationPOSITION PAPER EU CONSULTATION ON FAIR TAXATION OF THE DIGITAL ECONOMY
Opinion Statement FC 10/2017 POSITION PAPER EU CONSULTATION ON FAIR TAXATION OF THE DIGITAL ECONOMY Prepared by the CFE Fiscal Committee Submitted to the EU Institutions on 6 December 2017 The CFE (Confédération
More informationMarkets in Financial Instruments Directive (MiFID): Frequently Asked Questions
MEMO/10/659 Brussels, 8 December 2010 Markets in Financial Instruments Directive (MiFID): Frequently Asked Questions 1. What is MiFID? MiFID is the Markets in Financial Instruments Directive or Directive
More informationOfficial Journal of the European Union L 44/11 DIRECTIVES
20.2.2008 Official Journal of the European Union L 44/11 DIRECTIVES COUNCIL DIRECTIVE 2008/8/EC of 12 February 2008 amending Directive 2006/112/EC as regards the place of supply of services THE COUNCIL
More informationEU monitoring of tax legislations of the Member States
EU monitoring of tax legislations of the Member States Luisa-Maria ȚIVRIȘI, Legal officer European Commission Taxation & Customs Union DG - Direct taxation Control of the application of EU law and state
More informationBrussels, COM(2018) 767 final
EUROPEAN COMMISSION Brussels, 28.11.2018 COM(2018) 767 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE EUROPEAN COUNCIL, THE COUNCIL, THE EUROPEAN CENTRAL BANK, THE EUROPEAN ECONOMIC
More informationPUBLIC CONSULTATION PAPER. Problems that arise in the direct tax field when venture capital is invested across borders
` EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Direct taxation, Tax Coordination, Economic Analysis and Evaluation Direct tax policy and cooperation 3 August 2012 PUBLIC CONSULTATION
More informationPress Conference by European Commissioner for Taxation and Customs. László Kovács. "A new customs environment to face globalisation challenges"
Press Conference by European Commissioner for Taxation and Customs László Kovács "A new customs environment to face globalisation challenges" Brussels, Wednesday 30 November 2005 SPEECH (Slide 1) (Introduction)
More informationAmCham EU s position on the Commission Anti-Tax Avoidance Package
AmCham EU s position on the Commission Anti-Tax Avoidance Package Executive summary AmCham EU welcomes attempts to ensure that adoption of the OECD s recommendations is consistent across the EU and with
More informationEU VAT FORUM WORKING DOCUMENT DOCUMENT ELABORATED BY THE BUSINESS EXPERT GROUP (BEGV): DOING BUSINESS IN PAST AND PRESENT TIMES
EUROPEAN COMMISSION DIRECTORATE-GENERAL TAXATION AND CUSTOMS UNION Indirect Taxation and Tax administration Tax administration and fight against tax fraud Brussels, 15.1.2013 EU VAT FORUM WORKING DOCUMENT
More informationCOMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS
EUROPEAN COMMISSION Brussels, 8.5.2012 COM(2012) 209 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE
More informationA FAIR SHARE. Taxation in the EU for the 21st century
A FAIR SHARE Taxation in the EU for the 21st century CONTENT I want Europeans to wake up to a Europe where we have managed to agree on a strong pillar of social standards. Where companies profits will
More informationCOMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS
EUROPEAN COMMISSION Strasbourg, 16.12.2014 COM(2014) 910 final ANNEX 1 ANNEX to the COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE
More informationTO SOCIAL PROTECTION FOR PEOPLE IN ALL FORMS OF EMPLOYMENT IN THE FRAMEWORK OF THE EUROPEAN PILLAR OF SOCIAL RIGHTS
RESPONSE FIRST PHASE CONSULTATION OF SOCIAL PARTNERS UNDER ARTICLE 154 TFEU ON A POSSIBLE ACTION ADDRESSING THE CHALLENGES OF ACCESS TO SOCIAL PROTECTION FOR PEOPLE IN ALL FORMS OF EMPLOYMENT IN THE FRAMEWORK
More informationCOMMISSION DECISION. of
EUROPEAN COMMISSION Brussels, 25.11.2016 C(2016) 7553 final COMMISSION DECISION of 25.11.2016 modifying the Commission decision of 7.3.2014 authorising the reimbursement on the basis of unit costs for
More informationEuropean Economic and Social Committee (EESC) Section for the Single Market, Production and Consumption Single Market Observatory (SMO)
European Economic and Social Committee (EESC) Section for the Single Market, Production and Consumption Single Market Observatory (SMO) Follow-up of the European Commission DG MARKT Mr Barnier on the EESC
More informationThe future of life insurance, Solvency II and investment strategies
KEYNOTE SPEECH Gabriel Bernardino Chairman of EIOPA The future of life insurance, Solvency II and investment strategies 11 th Handelsblatt Annual Conference Solvency II Munich, 15 July 2014 Page 2 of 9
More informationEUROPEAN COMMISSION. Brussels, COM(2011) 870 final
EUROPEAN COMMISSION Brussels, 7.12.2011 COM(2011) 870 final COMMUNICATION FROM THE COMMISSION TO THE COUNCIL, TO THE EUROPEAN PARLIAMENT, TO THE COMMITTEE OF THE REGIONS, AND TO THE EUROPEAN AND SOCIAL
More information11261/12 RD/NC/kp DG G1A
COUNCIL OF THE EUROPEAN UNION Brussels, 6 July 2012 (OR. en) 11261/12 UEM 215 ECOFIN 589 SOC 566 COMPET 434 V 530 EDUC 207 RECH 270 ER 299 LEGISLATIVE ACTS AND OTHER INSTRUMTS Subject: COUNCIL RECOMMDATION
More information