Originally posted on Tax News:
Citizens, businesses and other stakeholders are being asked for their opinion on certain reduced VAT rates, in a public consultation launched by the Commission today.
They are also asked to consider what a change in EU rules in this area might imply.
The consultation is part of the wider work being done to fundamentally reform the EU VAT system, in order to make it simpler, more efficient and more robust. It will run until 3 January 2013.
Algirdas Šemeta, Commissioner for Taxation, Customs, Anti-fraud and Audit, said:
“It is high time that we take a fresh look at reduced VAT rates. Member States need new revenue sources, while businesses need simpler tax systems with fewer compliance costs. Today we are asking whether certain reduced VAT rates are delivering what they seem to promise, or whether they pose more problems than they are worth.”
In line with the principles set out…
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