EU MINISTERS AGREE NEW ANTI-VAT FRAUD REFORMS – SCRAP METAL TARGETED
July 1st, 2013
The number of European Union (EU) member states imposing reverse charge VAT mechanisms to prevent sales tax fraud in the scrap metal sector could rise, with EU ministers allowing governments to use these systems without permission from Brussels.The EU Council of Ministers has approved amendments to the EU’s VAT directive 2006/112/EC, enabling member states to force suppliers to pay VAT, rather than final consumers, when faced with a sudden onset of large-scale VAT fraud.Crucially, member states will not have to ask permission from the EU Council and the ...
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