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POSSIBLE FUTURE DEVELOPMENTS IN EUROPEAN VAT LAW

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danton
23 diapositives · 375 Views · Jul 13, 2014

This presentation by Stephen Bill at the International Tax Conference outlines potential future developments in European VAT law, emphasizing the need for harmonization to ensure a functioning internal market. Key objectives include reducing tax compliance costs, modernizing the VAT system, and safeguarding stable revenue bases across member states. The discussion covers simplification measures like e-invoicing, reduced rates for green products, and combating VAT fraud. Long-term challenges focus on facilitating trade while protecting tax revenues and exploring new collection methods.

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  1. POSSIBLE FUTURE DEVELOPMENTS IN EUROPEAN VAT LAW Stephen Bill European Commission International Tax Conference

  2. WHY DO WE NEED AN EU VAT ? • ART . 93 of Treaty requires harmonisation „ to the extent … necessary to ensure the establishment and functioning of the internal market “ International Tax Conference

  3. CURRENT POLICY OBJECTIVES • REDUCING TAX COMPLIANCE COSTS • MODERNISING THE COMMON VAT SYSTEM • ENABLING MEMBER STATES TO MAINTAIN STABLE REVENUE BASES International Tax Conference

  4. SIMPLIFICATION MEASURES • VAT PACKAGE (adopted) • E-INVOICING International Tax Conference

  5. MODERNISATION • POSTAL SERVICES • FINANCIAL SERVICES • VOUCHERS AND OTHER PROMOTION SCHEMES • PUBLIC AUTHORITIES International Tax Conference

  6. REDUCED RATES • PRIMARY ROLE OF VAT – RAISE REVENUE International Tax Conference

  7. REDUCED RATES(locally delivered services) • JULY 2008 PROPOSAL • DECEMBER EUROPEAN COUNCIL CONCLUSIONS • CURRENT ACTIVITIES International Tax Conference

  8. REDUCED RATES(ENERGY & CLIMATE CHANGE) • “GREEN“ PRODUCTS • “GREEN“ HOUSING International Tax Conference

  9. COMBATING FRAUD - MAIN PROBLEM • MISSING TRADER FRAUD IN INTRA-COMMUNITY TRADE OF GOODS International Tax Conference

  10. COMBATING FRAUDCommission communication in May 2006 THREE POSSIBLE APPROACHES TO COMBATING MISSING TRADER FRAUD : • Increased cooperation between Member States • Taxation of intra-community supplies • Application of generalised Reverse Charge International Tax Conference

  11. COMBATING FRAUD • DEBATE CONCLUDED (temporarilly) • CONCLUSION IS TO CONCENTRATE ON RE-INFORCING THE EXISTING SYSTEM International Tax Conference

  12. COMBATING FRAUD Strategy involves 3 categories of actions: 1) Those aimed at preventing potential fraudsters from abusing the system; 2) Those aimed at enhancing the tools for detection; 3) Those aimed at improving the possibility of collecting unpaid tax. International Tax Conference

  13. LONGER TERM ISSUES 2 FUNDAMENTAL CHALLENGES • HOW CAN WE FURTHER FACILITATE TRADE IN THE INTERNAL MARKET • WHILST SAFEGUARDING TAX REVENUES ? International Tax Conference

  14. PROCESS OF EVOLUTION • A POTTED HISTORY OF EUROPEAN VAT International Tax Conference

  15. 1st and 2nd VAT Directives (April 1967) Legal and Political commitment to the establishment of a common VAT system based on taxation at ORIGIN. International Tax Conference

  16. Attempts to apply origin system in the 1980s and 1990s • Rules and tax rate of country of origin (implying quasi-complete harmonisation) • Receipts reallocated to country of consumption International Tax Conference

  17. Why has origin system not been implemented? • Reluctance to give up fiscal sovereignty and accept the necessary harmonisation of rates etc. • Reluctance to rely on other Member States to collect a substantial portion of VAT revenue. International Tax Conference

  18. What has happened since 2000? • Emphasis increasingly placed on taxing in country of consumption • Harmonisation efforts concentrated on areas where compliance burdens could be reduced without undermining fiscal sovereignty International Tax Conference

  19. Where are we now?Since 1993: • B2C supplies of goods above minimum threshold: taxed in country of consumption (supplier required to register in country of consumption) • B2B supplies of goods: taxed in country of consumption via I. C. supply plus I.C. Acquisition International Tax Conference

  20. Where are we now? • From 2010: B2B supplies of services will be taxed in country of consumption using reverse charge mechanism • From 2015: Certain B2C supplies of services will be taxed in the country of consumption using a one stop shop mechanism International Tax Conference

  21. WHERE WILL WE BE IN THE FUTURE? • DESTINATION BASED SYSTEM (THUS RESPECTING FISCAL SOVEREIGNTY) • MIGHT BE NECESSARY/ POSSIBLE TO RE-THINK CURRENT RULES REGARDING RATES International Tax Conference

  22. WHERE WILL WE BE IN THE FUTURE? • FURTHER DEVELOPMENT OF 1 STOP SHOP PRINCIPLE • SINGLE ON-LINE RETURN FOR ALL EU SUPPLIES (?) International Tax Conference

  23. WHERE WILL WE BE IN THE FUTURE? • POSSIBLE NEW WAYS OF COLLECTING TAX (?) International Tax Conference