The ECOFIN Council has adopted a number of so-called
council conclusions supporting the EU Commission's VAT
strategy. According to this, businesses should be more
involved in the continued development of VAT rules. DI
welcomes the conclusions.
In future, the corporate world and other stakeholders
should be consulted more intensively when VAT rules are to
be changed. This will take place through the setting up of
a joint EU VAT forum for member states and companies and
through an enhanced hearing process involving all
stakeholders at an earlier stage of the legislative work.
This is one of several useful decisions taken by the ECOFIN
Council. DI Senior Adviser, Tax and Accounting Kristian
Koktvedgaard, who is also the chairman of the
BUSINESSEUROPE VAT working group, is satisfied: "More
active involvement of the corporate world in the
development of VAT rules is extremely important," he says.
Kristian Koktvedgaard says that improvements to the VAT
system are important due to the significance of VAT in
day-to-day business procedures.
Another proposal is cooperation on the design of an EU VAT
web portal ensuring easy access for businesses to obtain
reliable information on EU VAT legislation.