VAT

    • EU's VAT system further equipped to tackle fraud in e-commerce

      EU's VAT system further equipped to tackle fraud in e-commerce

      The EU's VAT system will be further equipped to tackle fraud in the e-commerce sector following new rules agreed last week by Member States, the EU press service reported. The agreement will for the first time make relevant data on online purchases available to anti-fraud authorities in their fight against VAT fraud in the sector, estimated at around €5bn a year in the EU.

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    • Peevski: We will propose BGN 0 subsidy and US funding model

      Peevski: We will propose BGN 0 subsidy and US funding model

      The Movement for Rights and Freedoms (MRF) plans to propose a BGN 0 subsidy for parties and introduction of the US funding model, MRF lawmaker and Telegraph Media publisher Delyan Peevski told reporters in the halls of the National Assembly. The decision is prompted by the proposal of GERB and the government to review the budget with a view to drastically cutting down the subsidy for political parties from BGN 11 to BGN 1, with the potential change to enter into force on 1 July.

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    • Peevski makes Radio Free Europe humorists cry

      Peevski makes Radio Free Europe humorists cry

      Satire is a tricky thing. Ineptitude is mortifyingly exposed whenever a person without a kernel of a sense of humour decides to try their hand at it. An example of such regrettable experiment appeared on the website of Radio Free Europe recently.

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    • New tool to help Member States crack down on VAT fraud

      New tool to help Member States crack down on VAT fraud

      A new system, launched on Wednesday, will allow Member States to rapidly exchange and jointly process VAT data, leading to earlier detection of suspicious networks, the EU press service reported. The Transaction Network Analysis (TNA) tool comes as recent media investigations once again laid bare the huge costs of VAT fraud for public finances, with criminal gangs profiting at the expense of honest taxpayers. It is part of the Commission's sustained effort to put in place a modern and fraud-proof VAT system.

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    • EC proposes tax exemptions for European defence forces

      EC proposes tax exemptions for European defence forces

      The European Commission has today adopted a proposal to exempt supplies to armed forces - such as training materials, accommodation, provision of food and fuel - from Value Added Tax (VAT) and excise duties when these forces are deployed outside their own Member State and take part in a European defence effort. As stated by the EC press office, supplies to armed forces participating in a NATO defence effort can already benefit from such exemptions.

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    • New VAT rules to help fight against tax fraud

      New VAT rules to help fight against tax fraud

      The Commission announced last Wednesday new detailed measures that will pave the way for a smooth transition to new VAT rules for e-commerce that come into force in January 2021, the EU press service reported. “The EU is gearing up for a brand new VAT system in 2021 to make it easier for companies to sell goods online and for Member States to recoup lost VAT revenues,” Economic Affairs Commissioner Pierre Moscovici said.

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