EU countries are losing billions every year in VAT fraud.
Today we've proposed new measures to modernise the EU's VAT system, make it more resilient to fraud and help legitimate businesses to thrive.
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🐦🔗: https://n.respublicae.eu/EU_Commission/status/1600824367772049411
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VAT is one of the most important sources of revenue for EU countries.
It contributes to the public services we all use, such as schools, hospitals, libraries and public transport.
In 2020, EU countries lost around €93 billion in VAT revenues.
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1600824758903267328
Our new VAT package proposes:
✅A move to real-time digital reporting
✅Updated VAT rules for passenger transport and short-term accommodation platforms
✅Single VAT registration across the EU
These key actions will help EU countries to collect up to €18 billion more in VAT.
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1600825094808670208