EU: Reform of VAT system proposed | KPMG | GLOBAL

EU: Reform of VAT system proposed

EU: Reform of VAT system proposed

The European Commission today announced a proposal for reforming the value added tax (VAT) rules in the EU.

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As noted in an EC release, a goal would be to enhance the collection of VAT revenue—especially revenue that is lost every year, in particular to cross-border VAT fraud. The proposed VAT reform would aim to make the system more modern, robust, and simpler to use for companies and businesses alike.

The proposals include a series of fundamental principles of a new definitive single EU VAT area, and would introduce the concept of a “certified taxable person” and four “quick fixes” that would be effective by 2019.

 

Read an October 2017 report prepared by the KPMG member firm in the Netherlands

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