The European Commission has today proposed new rules to give Member States more flexibility to set Value Added Tax (VAT) rates and to create a better tax environment to help SMEs flourish. Today's proposals are the final steps of the Commission's overhaul of VAT rules, with the creation of a single EU VAT area to dramatically reduce the €50 billion lost to VAT fraud each year in the EU, while supporting business and securing government revenues.
According to the latest Eurostat figures, Ireland (+12%) recorded the second highest annual rise in house prices in the EU in the third quarter of 2017 after the Czech Republic (12.3%). On average during the same period, house prices rose by 4.1% in the euro area and by 4.6% in the EU. Italy (-0.9%) was the only country to record a fall.