A new standard VAT return, which can cut costs for EU businesses by up to €15 billion a year, has been proposed by the Commission today. The aim of this initiative is to slash red-tape for businesses, ease tax compliance and make tax administrations across the Union more efficient. As such, it fully reflects the Commission's commitment to smart regulation and is one of the initiatives set out in the recent REFIT to simplify rules and reduce administrative burdens for businesses.
The Commission has also published practical guidelines to prepare businesses for new VAT rules for telecoms and e-services, which will enter into force in 2015. The aim is to help businesses to be fully prepared on time for the change-over, whereby VAT will be charged where the customer is based, rather than where the seller is. A One Stop Shop will enable telecoms, broadcasting and e-services businesses comply with all of their VAT obligations in all Member States from their country of registration. The guidelines: http://europa.eu/rapid/press-release_IP-13-1004_en.htm