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Introducing the definitive VAT system for B2B cross-border trade [EU Legislation in Progress]

Written by Ana Claudia Alfieri (1st edition),

© Nuthawut / Fotolia

Value added tax (VAT) is an important source of revenue for national governments and the European Union (EU) budget and, from an economic point of view, it is a very efficient consumption tax. However, the existing rules governing intra-Community trade are 25 years old and the current common EU VAT system presents such problems as vulnerability to fraud, high compliance costs for businesses and also a heavy administrative burden for national authorities.

The reform of the system is planned in several consecutive steps, first for goods and then for services, and will take some years. This proposal introduces the basic features of the definite VAT system for business-to-business (B2B) transactions of goods and aims to harmonise and simplify certain rules of the current VAT system, by amending the VAT Directive (Directive 2006/112/EC).

Versions Proposal for a Council Directive amending Directive 2006/112/EC as regards harmonising and simplifying certain rules in the value added tax system and introducing the definitive system for the taxation of trade between Member States Committee responsible: Economic and Monetary Affairs (ECON) COM(2017) 569
4.10.2017 Rapporteur: Jeppe KOFOD (S&D, Denmark) 2017/0251(CNS) Shadow rapporteurs:

 

 

  Ivana Maletić (EPP, Croatia)
Sander Loones (ECR, Belgium)
Thierry Cornillet (ALDE, France )
Dimitrios Papadimoulis (GUE/NGL, Greece)
Molly Scott Cato (Greens/EFA, United Kingdom)
Barbara Kappel (ENF, Austria) Consultation procedure – parliament adopts only a non-binding opinion Next steps expected: Vote in ECON committee on draft report

Categories: European Union

[Ticker] EU readies counter-measures on possible US car tariffs

Euobserver.com - Thu, 07/19/2018 - 13:12
The EU is preparing a list of counter-measures to possible US tariffs on European cars, EU trade commissioner Cecilia Malmstrom said on Thursday, a week before she and the EU Commission president Jean-Claude Juncker travel to Washington for trade talks with US president Donald Trump. The EU has already imposed tariffs worth €2.8bn on US products as a counter-measure to US tariffs on steel and aluminium.
Categories: European Union

[Ticker] EU Commission launches probe into Hungary's 'Stop Soros' law

Euobserver.com - Thu, 07/19/2018 - 12:52
The EU Commission on Thursday launched a probe into Hungary's so-called 'Stop Soros' legislation that criminalises assistance to people seeking asylum in the country. The new law could be in breach EU rules on asylum applicants' rights and other EU rules on non-admissibility. The commission also referred Hungary to the EU's top court for an earlier breach of EU asylum rules for legislation adopted in 2015.
Categories: European Union

Banker: ‘Massive positive change’ underway for building renovation

Euractiv.com - Thu, 07/19/2018 - 12:44
The energy performance contract model can turn energy efficiency renovation of buildings into a truly popular policy objective among politicians in Central and Eastern Europe because it can be done without any use of public money and has no impact on public debt, says Ivan Lesay.
Categories: European Union

France to help Serbia’s accession to EU, reforms needed beforehand

Euractiv.com - Thu, 07/19/2018 - 12:40
Paris wants to help Serbia solve its most delicate issues en route to the EU, French President Emmanuel Macron has told his Serbian counterpart. But Macron also said that both Serbia and the EU have to be reformed before any further EU enlargement. EURACTIV.rs reports.
Categories: European Union

Debate: EU imposes record fine on Google

Eurotopics.net - Thu, 07/19/2018 - 12:23
The EU Commission has announced a record fine for Google: the tech giant must pay 4.3 billion euros for abuse of its dominant market position. Some commentators are delighted to see the EU actively protecting the interests of consumers. Others argue that only innovation can challenge Google's dominance.
Categories: European Union

Debate: How risky is Trump's foreign policy?

Eurotopics.net - Thu, 07/19/2018 - 12:23
Following the summit in Helsinki US President Trump has come under major pressure and is rejecting cross-party criticism in the US of his conduct at the summit meeting. Most commentators also take a dim view of Trump's foreign policy. But there are exceptions.
Categories: European Union

Debate: Tragic rescue from destroyed rubber boat

Eurotopics.net - Thu, 07/19/2018 - 12:23
A maritime rescue team discovered on Tuesday a woman clinging to the remains of a rubber dinghy, flanked by two corpses. Rescue organisations accuse the Libyan coastguard of failing to render assistance and leaving migrants to die in the Mediterranean. How can the EU rely on cooperation with a failed state like Libya, commentators ask.
Categories: European Union

Debate: How much clout does the Kremlin have in Greece?

Eurotopics.net - Thu, 07/19/2018 - 12:23
In the last week Greece has expelled two Russian diplomats who allegedly used bribes in a bid to escalate protests against the compromise in the name dispute with the Former Yugoslav Republic of Macedonia (Fyrom). Commentators demand less naivety in Athens' dealings with Moscow and more transparency vis-à-vis its own citizens.
Categories: European Union

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