The Resource Harmonization of VAT in the EU : back to the future

Harmonization of VAT in the EU : back to the future

Label
Harmonization of VAT in the EU : back to the future
Title
Harmonization of VAT in the EU : back to the future
Creator
Subject
Language
eng
Summary
The Neumark Report was the point of departure of one of the most exciting fiscal experiences: the world wide expansion of VAT as the turnover tax. Despite having initiated this process, laid down and implemented the principles of VAT, the EU has failed to substantially improve and adapt its own model to a true single market in modern economies. The consequence is a large number of difficulties with this VAT system, huge compliance costs and a degree of dissatisfaction. This paper reviews these situations. Moreover, the transitional VAT regime for intra-EU transactions with its weaknesses has lasted for too long, and it is now unable to cope with the development of fraud. Reforming is always more difficult than to start from scratch; nevertheless, there are a number of ideas and experiences, including where VAT was introduced more recently in the rest of the world, which offer interesting solutions for a modern VAT system. Suggestions are made that conform to the fundamental principles of VAT and provide notably the degree of neutrality and efficiency that contributed to make VAT such a success. According to the author it is time to return to these fundamentals and the objective of a better coordination of economic and notably tax policies may offer the right occasion
Citation source
In: EC tax review. - Alphen aan den Rijn. - Vol. 21 (2012),
http://library.link/vocab/creatorName
Aujean, M
Geographic coverage
  • European Union
  • Europe
Language note
English
http://library.link/vocab/subjectName
  • VAT system
  • VAT harmonization
Label
Harmonization of VAT in the EU : back to the future
Instantiates
Publication
Label
Harmonization of VAT in the EU : back to the future
Publication

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