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αποτέλεσμα(ατα)

Λέξη (-εις)
Τύπος δημοσίευσης
Τομέας πολιτικής
Συντάκτης
Ημερομηνία

Detailed technical measures for the definitive VAT system for cross-border goods trade

20-06-2019

The common European value added tax (VAT) system was set up in 1967, and reformed in 1993, to adapt it to the entry into force of the European Union (EU) internal market. The existing rules governing intra Community trade were therefore intended to be transitory. While VAT has become an important source of revenue for both national governments and the EU budget, the current system is ill-adapted to the challenges of a modern economy. A substantial review was initiated as from 2016, to update the ...

The common European value added tax (VAT) system was set up in 1967, and reformed in 1993, to adapt it to the entry into force of the European Union (EU) internal market. The existing rules governing intra Community trade were therefore intended to be transitory. While VAT has become an important source of revenue for both national governments and the EU budget, the current system is ill-adapted to the challenges of a modern economy. A substantial review was initiated as from 2016, to update the EU VAT system and make it less vulnerable to fraud, as described in the April 2016 VAT action plan. The proposal, adopted on 25 May 2018, would amend the VAT Directive (Directive 2006/112/EC), to introduce detailed technical measures for the definitive VAT system for intra-EU business to business (B2B) trade in goods. The present proposal follows and complements the adoption of Council Directive (EU) 2018/1910 on 4 December 2018. The Parliament adopted its position on the proposal on 12 February 2019; the Council has yet to finalise its position. Third edition of a briefing originally drafted by Ana Claudia Alfieri, and subsequently updated by Laura Puccio. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Understanding the rationale for compiling 'tax haven' lists

08-12-2017

With taxation constantly in the headlines as one tax leak follows another, the question of which tax jurisdictions are regularly associated with the schemes revealed has gained in importance. Broadly speaking, tax havens provide taxpayers, both legal and natural persons, with opportunities for tax avoidance, while their secrecy and opacity also serves to hide the origin of the proceeds of illegal and criminal activities. One may ask why establishing a list of tax havens is useful. Drawing up such ...

With taxation constantly in the headlines as one tax leak follows another, the question of which tax jurisdictions are regularly associated with the schemes revealed has gained in importance. Broadly speaking, tax havens provide taxpayers, both legal and natural persons, with opportunities for tax avoidance, while their secrecy and opacity also serves to hide the origin of the proceeds of illegal and criminal activities. One may ask why establishing a list of tax havens is useful. Drawing up such a list started with the actions to stop harmful tax practices arising from the discrepancy between the global reach of financial flows and the geographically limited scope of jurisdictions, matching or inside national borders. This difference is central to the inter-connected issues of tax avoidance, tax evasion and fraud, and money laundering. Whatever name is used (tax haven, offshore centre, non-cooperative jurisdiction) they all have in common that they make it possible to escape taxation: low or zero taxation, a fictitious residence (with no bearing on reality) and tax secrecy. The last two are key for hiding the ultimate beneficial owner, and consequently for money laundering. In short, the tax-haven issue reveals the discrepancy between real economic activity and the form and appearance given to it, through complex and global schemes. In the EU, the process of adopting a common list of non-cooperative tax jurisdictions was initiated as part of efforts towards good governance in tax, and the external dimension thereof. On 5 December 2017, the Council adopted a first common list.

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