Europe plans VAT integration
Kablenet.com
Published: 01 Nov 2004 15:14 GMT
The EU is to create a central electronic portal for VAT declarations, according to proposals drawn up by the European Commission. The plans, issued on Friday, are part of an attempt to "simplify" the VAT system across Europe.
Along with the portal plan is a proposal to allow traders from one country to be identified by a single VAT number across the EU. The portal is also aimed to improve the existing process, so that any VAT refunds would be sent directly to the applicant.
The move follows a consultation earlier this year to set up the one stop shop allowing businesses to make VAT declarations online. It is hoped that the scheme would simplify the existing system.
At present, businesses have to pay VAT in the member state where consumption of the goods takes place, but often they do not have an office in that country.
Did you find this article useful?
55 out of 106 people found this useful
Digg
Slashdot
Del.ici.ous
Stumble
Reddit
