Brussels, 8/02/2013 (Agence Europe) - In plenary on 7 February 2013, the European Parliament (EP) adopted a report by David Costa (EPP, Malta) on the draft directive unveiled by the European Commission in July 2012 to amend the VAT directive in order to introduce a quick reaction mechanism (QRM) to tackle VAT fraud. The European Parliament is only being consulted over this, not having any legislative powers.
The QRM (see EUROPE 10667) will allow a member state that discovers tax fraud on a...