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KEITH NUTHALL
A 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.…

Keith Nuthall
THE UNITED States government has informed the disputes settlement body of the World Trade Organisation that it “intended to comply” with the final Havana Club ruling issued at the start of this year, although it warned diplomats that it “would require for that purpose a reasonable period of time.”…

BY KEITH NUTHALL
FUTURE phytosanitary agreements between the EU and third countries should focus on “a limited number of products of undoubted importance to the parties,” said the European Commission following the emergence of a number of “practical problems” in existing deals.…

BY KEITH NUTHALL
AN EXPERT commission established by the Council of Europe has made detailed recommendations about how to fight money laundering in three east European countries where criminals have exploited weak state structures to hide their illicit profits: Albania, Georgia and Moldova.…

BY MARK ROWE
SHIPPING companies and their related organisations are being invited to submit bids for funding under a new Euro 280 million North Sea initiative launched by the European Union.

Grants will be made available for projects that will promote efficient and integrated transport and maritime systems in the North Sea and its adjacent coastal regions.…

BY KEITH NUTHALL
THE EU’S anti-fraud organisation OLAF has held its annual Task Group Cigarettes meeting, in Seville, Spain, with European customs departments, to discuss the targeting of their collective fight against cigarette smuggling.…

BY KEITH NUTHALL
THE GREEK government has asked EU ministers permission to exempt local small waste dealers in glass, paper, board, scrap iron and steel and suppliers of any size in non-ferrous metals from paying VAT. Athens wants to deviate from European tax directives this way, because of VAT evasion and the difficulties of investigating the sector.…

BY KEITH NUTHALL
THE EUROPEAN Union’s Office for Harmonization in the Internal Market (Trade Marks and Designs) (OHIM) has warned companies to avoid an offer from a German company ZDR-Datenregister to register their trademark in a so-called Central Data-Register Community Trade Marks, for payment of Euro 1,235.40.…

BY KEITH NUTHALL
EUROPEAN Union ministers have approved a new ‘solvency margin’ directive that boosts by 50 per cent the minimum financial reserves that must be retained by EU-registered insurance companies writing aviation industry policies, which Brussels deems “a particularly volatile risk.”…

Keith Nuthall
THE EUROPEAN Commission has announced reforms to its state aid rules for large-scale projects, which particularly affect the European Union’s synthetic fibre sector. From January 1, 2003, the industry will be subject to transitional rules maintaining the strict approach of the current sector specific rules; in particular, projects will not be eligible for investment aid.…