EUROPEAN PARLIAMENT BACKS VAT ACTION PLAN TO TACKLE FRAUD
November 1st, 2016
The European Parliament has backed a proposed value added tax (VAT) action plan in a November 24 vote, calling on European Union (EU) member states to fight the EUR50 billion-a-year lost within member states to VAT fraud “resolutely and jointly”. The report 'Towards a definitive VAT system' adopted last week calls for a better exchange of information between national tax authorities to avoid fraud and that the current 23-year-old EU VAT rules system (established as a preliminary system of collaboration between EU countries) to be simplified within a ...
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