Proposal on VAT Tax Coordination

The European Commission adopted a proposal for a recast of the Regulation on administrative cooperation in the field of valued added tax, extending and reinforcing the legal framework for the exchange of information and cooperation between tax authorities.

One of the most novel elements in the proposal is the creation of Eurofisc. It is supposed to allow a very fast exchange of targeted information between all Member States as well as the setting up of common risk and strategic analysis.

The Recast regulation sets out that Member States are jointly responsible for the protection of VAT revenues in all Member States.

2 responses to “Proposal on VAT Tax Coordination

  1. Richard Asquith

    This is very interesting, and I had not heard it before?

    Is this the start of a pan-Europe VAT authoritiy which will cover other issues outside of fraud. I think I read something about this on http://www.tmf-vat.com last week.

    Will it cover other taxes such as IPT

  2. Вихър Георгиев

    Richard,

    It’s just a proposal and the idea is to promote coordination and exchange of information. Eurofisc will not replace in any way national tax authorities.

    There are ideas, however, by former competition Commissioner Monti, for a common EU tax system: http://howmuchregulation.com/Site/Blog/Entries/2009/5/17_Common…European_Tax__System.html

    Bear in mind that many will oppose Mr. Monti’s ideas.

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