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EU launches consultation into effects of reduced VAT rates on internal market

The European Commission said it is launching an online consultation to gather stakeholders'' views on the current EU VAT legislation on reduced rates and possible changes.



 

The EU''s VAT directive provides for the application of a minimum 15 pct VAT rate all over the bloc but also sets out a restricted list of goods or services for which member states have the possibility to apply a reduced rate.

The commission said certain member states are granted some derogations which allow them to apply reduced rates on other goods or services, thereby preventing coherent EU legislation.

The commission said it is seeking stakeholders'' opinions and evidence on the impact that applying reduced VAT rates on different categories of goods or services has on prices, demand, employment, environment and on any factor which could distort the smooth functioning of the internal market.

It invites that comments are submitted by May 12 and said it will take into account the opinions and views in its legislative proposal planned for July.

Source : Euro2day - Greece, dated 11/03/2008

 

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