Thousands of ideas for the future of VAT
The public consultation of the European Commission on the future of the Value Added Tax (VAT) system has terminated. Stakeholders have submitted around 1,700 contributions, totalling more than 8000 pages. They have raised a wide range of topics: from the need for a complete overhaul of the EU VAT system to more specific questions such as the relevance of reduced VAT rates or deductions. Contributions came from EU Member states and beyond - Switzerland, Japan, the USA.
Following a public consultation, Commissioner for Taxation Algirdas Šemeta said: "I would like to thank all the stakeholders for their contributions in this consultation. Your opinion counts! I can assure you that all the feedback will be considered. Active participation from stakeholders and their ideas will help us to ensure that the proposed VAT system works better for everyone."
The Commission has already started to analyse the feedback received and will use it to choose the best approach for creating a more stable, robust and effective VAT system for the future. On this basis the Commission will present the priorities for the future VAT system in a Communication at the end of 2011.
The public consultation gave a chance to all the stakeholders to express their thoughts and views on the problems that currently exist with regard to VAT, and how these can be addressed. This consultation was open from December 2010.
For more information on the Green paper on the future of VAT, see:MEMO/10/633