European Commission Proposes VAT Overhaul

On October 4, 2017, the European Commission published a set of proposals aimed at simplifying and modernizing the current VAT system. The "cornerstone" principles of the Commission's approach are: 

 

  • Combating VAT fraud and reducing the €150 billion VAT Gap
  • Establishing a "One Stop Shop" for cross-border trade
  • Consistently applying the "destination principle" for VAT
  • Simplifying invoicing rules for businesses making cross-border supplies

 

To continue reading, head over to the Sovos blog for the full details. 

Author

Charles Riordan

Charles Riordan is a member of the Tax Research team at Sovos Compliance specializing in international taxation, with a focus on Value Added Tax systems in the European Union. Charles received his J.D. from Boston College Law School in 2013 and is an active member of the Massachusetts Bar.
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