EU VAT priorities for 2018
Fri 2nd Feb 2018
Bulgaria, which holds the Presidency of the Council of the EU for the first half of 2018, has issued its priorities for indirect tax.
- Completing the Norwegian agreement on administrative cooperation on VAT
- Agreement on the four simplifications for cross border supplies of goods, including the establishment of the Certified Taxable Person process
- Confirming a long term minimum standard VAT rate for all member states
- Continuing debate on freeing of control on setting reduced VAT rates by member states
- Progressing proposals for reduced foreign VAT compliance requirements for small and medium sized businesses
- Assessing the impact of the use of the domestic reverse charge in fraud-prone sectors
- A strategic review of indirect tax on financial services in light of the proposed Financial Transaction Tax and previous discussion on leving VAT on the sector.
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