No immediate EU plans to propose ending UK VAT exemptions – EU’s Moscovici

The European Commission has no immediate plans to propose ending value added tax exemptions on various products in the United Kingdom, the EU Commissioner responsible for taxes Pierre Moscovici told a news briefing on Thursday. On Wednesday, Moscovici told reporters the Commission would consider whether to scrap the British “zero rate” on some items, a legacy

pre-dating the current EU minimum VAT of 5 percent as it would “have to reassess everything”. He said that while no decision had been made, a “zero rate is not the best idea.” But on Thursday Moscovici made clear there were no plans now to scrap the British exemptions and even if such a proposal were to be drawn up, it could not be implemented without London’s consent. “We have reaffirmed our intention to bring forward legislative VAT simplification measures to help small e-commerce business, in particular to operate cross borders,” Moscovici said when asked about his remarks on Wednesday.

via ynetnews.com

Source: http://www.ynetnews.com/articles/0,7340,L-4759064,00.html

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