Semeta reaffirms commitment to reform EU VAT
Algirdas Šemeta, European Commissioner for Taxation and Customs Union, Audit and Anti-Fraud will propose broad objectives for the future VAT system by the end of the year.
Šemeta, speaking at the FEE Tax Day 2011 Brussels, pointed out that the present system is too complex and in need of reform, though he was quick to manage expectations as agreement among member states on tax policy is notoriously difficult.
“Whilst expectations are high, several respondents indicated that there is also a need to remain realistic,” he said. “Member states are understandably unwilling to take any risks with this tax, accounting for 21% of national revenues in the EU.”
The full text of his speech can be found here.