Brussels, 31/07/2012 (Agence Europe) - On Tuesday 31 July 2012, the European Commission published a draft directive to introduce a rapid reaction mechanism (RRM) to enable EU member states to clamp down fast on serious value added tax (VAT) fraud by bringing in emergency legislation. The RRM will allow member states to obtain, within a month, exemption from EU VAT rules on the reverse charge mechanism whereby beneficiaries of goods and services are made liable for VAT, rather than the...