The Baltic Course

International Internet Magazine. Baltic States news & analytics Sunday, 24.06.2018, 19:28

The EU new VAT system facing modern challenges

The EU new VAT system facing modern challenges

22.06.2018.

The Commission has welcomed the agreement reached by the EU states (22.06.2018) on new tools to close loopholes in the EU's Value Added Tax system. Existing inconsistencies can lead to large-scale VAT fraud causing losses of €50 billion for the EU states' budgets each year. New VAT system will provide the EU states with a reliable exchange information system to cooperate closely in combating criminal and terrorist activities.

Keyword tags: Analytics, EU – Baltic States, Financial Services, Good for Business, Legislation, Modern EU


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