The EU Parliament’s economic and monetary affairs (ECON) committee has tabled its report containing amendments to the Commission’s proposal to allow member states greater flexibility in applying reduced rates, in advance of the plenary debate in Strasbourg on 2 October.
The VAT gap across the EU decreased by €10.5bn during 2016 to an overall figure of €147.1bn. This represents 12.3% as a percentage of revenue, down from 13.2% in 2015. Actual VAT revenues for the year across the EU rose by 1.1%.
The European Commission has published the latest in its series of ‘stakeholder’ notices setting out its view of the consequences of UK withdrawal in the area of customs and taxation.
The Taxation (Cross-border Trade) Act 2018 received Royal Assent on 13 September. The Act allows the government to create a standalone customs regime when the UK leaves the EU and provides for amendment of existing VAT and excise legislation.
Following consultation, HM Treasury intends to explore in more depth a number of proposals for using the tax system to reduce the amount of single-use plastic waste. The chancellor will announce the final set of policies to be taken forward at Budget 2018.
HMRC has updated its guidance in the VAT Education Manual on the topic of vocational training, to reflect the Court of Justice judgment in Brockenhurst College, Case
HMRC has confirmed it will require businesses to account for VAT at the standard rate on damp-proofing products, such as paints, creams or gels, with effect from 1 September 2018.
HM Treasury has published a draft order to block VAT avoidance schemes of the type defended successfully at the First-tier Tribunal in Hastings Insurance Services [2018] UKFTT 27 (TC), involving recovery of VAT on exempt financial services which are routed through offshore entities outsi
HMRC has announced a change of policy following the decision of the First-tier Tribunal in Phoenix Foods Ltd [2018] UKFTT 18 (TC).