European Union - Commission hosts conference on the future of VAT
European Commission hosts conference on the future of VAT.
On 6 May 2011, EU Commissioner Šemeta in charge of Taxation, opened a conference on the "Green Paper on the future of VAT – Towards a simpler, more robust and efficient VAT system" in Milan. This conference is organized by the European Commission (DG Taxation and Customs Union), and fits into the broad consultation that Commissioner Šemeta launched in December 2010 on how to strengthen and improve the current VAT system for tax payers and administrations in the EU.
The following sessions were held:
Session 1
Adapting the VAT system to the Single Market; Keynote speeches delivered by Chris Needham (General Electric) and Antonio Vento (Confcommercio):
- VAT treatment of cross-border supplies (defining the place of supplies of services and goods and their taxation);
- Adapting the VAT system to large and pan-European businesses; and
- SMEs.
Session 2
Enhancing the administration of the VAT system; Keynote speeches delivered by Ine Lejeune (PWC):
- Reducing complexity and administrative burden on businesses;
- Enhancing the efficiency of tax administrations;
- Reviewing VAT collection; and
- Protecting bona fide traders against involvement in fraud.
Session 3
The keys to fiscal consolidation and neutrality of VAT; Keynote speech delivered by José Manuel García-Margallo Y Marfil (MEP, Vice-Chair of the ECON Committee):
- Broadening the tax base and reviewing the rates structure; and
- Principles of deduction.
Finally, the floor was open for discussion between the panellists and the participants.
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