MONEY-OFF VOUCHERS VAT
July 1st, 2003
BY KEITH NUTHALLTHE EUROPEAN Commission is asking the European Court of Justice to authorise daily-recurring fines against the German government, because it refuses to allow retail goods producers to reduce their VAT bill when issuing money-off vouchers. Germany insists that VAT is paid on their products' full price, meaning manufacturers cannot recoup all owed sales taxes from consumers. Noting that the cosmetics sector was particularly affected, the Commission claims Germany is breaking the EU's Sixth VAT Directive (77/388/EC). It has already secured a ...
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