EU VAT priorities for 2018
- Feb 1, 2018 | Richard Asquith
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.