Cutting Red Tape and Boosting Tax Revenues: Commissioner Šemeta welcomes European Parliament's support for the Standard VAT Return

27 Feb 2014 02:53 PM

Algirdas Šemeta, EU Commissioner for Taxation, welcomed the European Parliament's strong support yesterday for a Standard VAT Return (see IP/13/988). The Standard VAT Return is one of the Commission's key proposals to cut red-tape for business and improve tax compliance in the EU.

Commissioner Šemeta said: "This proposal is about making life simpler and cheaper for businesses. With the Standard VAT Return, it will be as easy to declare VAT abroad as it is at home. As such, it will remove a major tax obstacle in our Single Market and cut compliance costs by up to €15bn a year. Moreover, simpler rules are easier to follow and enforce. So the Standard VAT Return should also boost tax compliance throughout the EU, bringing new revenues to the Member States. I am very pleased – but not surprised – that the European Parliament has shown such backing for this growth-friendly, business-friendly proposal. I would like to thank the rapporteur, Ivo Strejček, for his great work on this file."