VAT news tagged as "TOMS"

Europe

EU withdraws VAT travel agent and VAT recovery proposals

May 24th, 2014

The European Union withdrew a number of proposed VAT measures this week. These include: Withdrawal of amendment (COM(2002) 64 2002/0041) to the travel agents’ Tour Operator Margin Scheme. The special mechanism aimed to simplifying the application of European VAT for smaller operators buying packages around Europe. However, many countries have failed to follow the EU …


Europe

ECJ ruling on Travel Agents scheme

September 15th, 2013

The European Commission has a lost a major ruling on the running of the special Travel Agents VAT scheme. The European Court of Jusctice, the highest court of appeal for EU-related legal matters, struck down actions brought by the EC against Italy, Czech Republic, Greece, Finland, France, Spain and Portugal. The EC had contented that …