EU VAT priorities for 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.

These include:

• 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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