VAT REFORM
February 1st, 2002
KEITH NUTHALLA COMPREHENSIVE reform of the European Union's VAT package for travel agents has been proposed by the European Commission, which would change the special rules that apply for the sector. Because their services are often consumed in a foreign Member States where different sales tax rates can apply, travel agents are allowed to pay VAT on the profits that they make rather than handing over the VAT charged directly on services that they supply, minus the VAT they paid when incurring allowable business expenses.The Commission has asked EU ministers to ...
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