News - EU boost

EU boost

The European Commission has adopted a plan of EU-wide taxation and customs measures aimed at reducing compliance costs and red tape which it says co-existing national tax systems can have on market integration. The measures proposed are not intended to change the structure of Member States' tax systems or to impinge on their national fiscal sovereignty.
The Commission's plans include:

• proposals to modernise the customs legislation and promote a better use of information technology in the customs area;
• a proposal to allow companies to use a single basis of assessment for corporate tax for all their EU-wide activities;
• proposals to modernise VAT rules particularly the current VAT treatment of financial services in order to improve efficiency and reduce costs and of public authorities in order to ensure a level playing field with the private sector;
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