EU sets out ideas on simpler, more effective Vat system

The EU’s Vat system is broken and out-dated and ideas on a simpler, more effective system were outlined in Brussels.

After more than two decades EU member states are ready to change so that the Vat becomes payable at the final destination, where the sale is taking place.

Outgoing EU Taxation Commissioner Algirdis Semeta said the five options for shaping a future Vat regime followed on extensive consultations with member states and stakeholders.