EU: VAT proposals withdrawn, insurance and financial services

VAT proposals withdrawn in EU

The European Commission has withdrawn two value added tax (VAT) proposals:

Related content

  • A proposal for a standard VAT return
  • A proposal regarding the treatment of insurance and financial service

KPMG observation

The withdrawal of the proposal for a standard VAT return highlights the practical difficulty for agreement across 28 EU Member States. While generally supportive of the idea, it would appear that problems stemmed from the unwillingness of EU Member States to give up information they currently collect. Perhaps of greater importance is the official end of the negotiations on the treatment of insurance and financial services.


Read a May 2016 report prepared by the KPMG member firm in the UK

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