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Does the VAT default surcharge regime achieve its purpose?
KEY POINTS
- Basic overview of the default surcharge regime.
- Individual surcharge may be disproportionate but the default surcharge system is not fundamentally flawed.
- In the Equoland judgment the CJEU discusses the concept of proportionality of penalties.
- The default surcharge regime was designed to improve revenue flow.
- Possible alternatives to the present system.
After I had served two years as an audit trainee an instructor on an in-house course told me I was supposed to put a specific objective at the top of every working paper – it was important to define the purpose of each procedure.
This was an epiphany: I gave up auditing shortly afterwards. It was too hard to think of any good reason for most of what I was asked to do.
For some reason...
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