Council's Political Agreement on VAT Package a Boon for SMEs
added: 2007-12-07
UEAPME, the European craft and SME employers' organisation, warmly welcomed the political agreement on the so-called "VAT package" reached by the ECOFIN Council in Brussels. UEAPME was pleased by the Council's support to the creation of a "one-stop-shop" scheme to simplify registration and declaration of VAT by businesses in their home country, which will also apply to activities carried out in other Member States. This will dramatically diminish bureaucracy, according to UEAPME, which was equally satisfied with the Council's choice to move taxation for VAT on services to the place where the customer is situated from the place where the supplier is located as is currently the case.
