REFORM OF RULES ON EU VAT
Journal Title: Challenges of the knowledge society ( Provocari ale societatii cunoasterii ) - Year 2018, Vol 10, Issue 12
Abstract
In January 2018 the EU has released two proposal designed to simplify the VAT system, specifically around reduced rates, and to reduce compliance costs of smaller businesses in respect of VAT. The EU's common rules on VAT rates do not treat Member States equally. More than 250 exemptions allow several Member States much more flexibility in setting VAT rates than others. While these derogations are due to expire once the reformed VAT system comes into place, the rates proposal will ensure that all Member States have the same flexibility and a uniform structure in which to set their own VAT rates. The second proposal is designed to make trading in other EU member states easier for smaller businesses. Currently, small businesses may benefit from generous thresholds in their state of establishment, but zero thresholds exist for non-established businesses, meaning higher compliance costs. The intended proposals will provide simplification measures (around invoicing, record keeping etc.) for businesses with a turnover not exceeding €2 million and will allow member states to apply thresholds to non-established businesses with a turnover not exceeding €100,000.
Authors and Affiliations
Maria Zenovia GRIGORE, Mariana GURĂU
Keywords
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