EU MINISTERS ASKED TO APPROVE REVERSE CHARGE VAT LAW
November 1st, 2009
BY KEITH NUTHALL
THE EUROPEAN Commission has formally proposed that European Union (EU) member states be allowed until December 2014 to operate reverse charge systems for a limited range of products and services where consumers are responsible for paying VAT. The initiative is designed to help governments prevent carousel fraud, involving intra-EU cross-border trades, which has cost billions of Euros in lost revenue. In a memorandum, the Commission said it wanted to assess "the usefulness and the proportionality of the targeted application of reverse ...
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