The European Commission announced yesterday that it is assessing ideas on how to create a simpler, more effective, and more fraud-proof VAT system in the EU. The Commission set out five options for shaping the future VAT regime with a focus on business-to-business supplies of goods. The Commission is now undertaking an in-depth assessment to determine the impact of each option with conclusions expected in Spring 2015.
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EU Commission proposes new VAT system
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