• Service: Tax, Global Indirect Tax
  • Type: Regulatory update
  • Date: 10/23/2013

EU - Standard VAT return is proposed 

October 23:  The European Commission today announced a proposal for a standard value added tax (VAT) return.

According to today’s EC release, the goal of a standard VAT return would be to reduce administration for businesses, ease tax compliance, and make tax administration across the EU more efficient.

  • The VAT return would have a uniform set of requirements for businesses when filing their VAT returns, regardless of the EU Member State where filed.
  • The standard VAT return would replace national VAT returns, and would provide that businesses are asked to provide the same basic information, within the same deadlines, across the EU.
  • It is anticipated that the VAT return would only have five compulsory boxes to be completed, but EU Member States would be allowed to request a number of additional standardized elements, up to a maximum of 26 information boxes.
  • Businesses would file the standard VAT return on a monthly basis, while “micro-enterprises” would only be required to file on a quarterly basis. The current requirement of some EU Member States for an annual “recapitulative VAT return” would be repealed.
  • The standard VAT return would also encourage electronic filing.

Read the EC proposal [PDF 88 KB] for a standard VAT return.

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