In their 10th anniversary briefing paper, TMF Group’s VAT team examine the past decade of European VAT reforms, and look at how they are poised to evolve over the next ten years – particularly as the much-anticipated Single EU VAT Return scheme looks set to be abandoned by the EU Commission.
VAT Technical Manager and co-author of the paper, Dr Robert Nagy said: “The current VAT system in Europe is complex and characterised by varying rates for, and different treatments of, goods and services, depending on the country in question.”
“While the ambitious single VAT return would have been ideal, there may be other paths to take to make it easier for businesses to report on cross-border transactions, and reduce the compliance burden.”
TMF Group is celebrating ten years of providing VAT services to clients operating and investing globally. Beginning in 2005 as a small team covering the UK, Ireland and Germanic countries, the VAT team now consists of a large, multi-lingual group of experts with experience across many different industries. TMF Group is the world’s largest independent provider of VAT and GST registration, returns, recovery and compliance.