Brussels, 22/07/2013 (Agence Europe) - Without debate on Monday 22 July, the Council of the EU adopted two directives to introduce a rapid reaction mechanism and a self-assessment system for value-added tax (VAT) to help member states react faster against carousel fraud (see EUROPE 10872).
Both directives adjust the VAT directive (2006/112/EC) and will come into force by 2019. They follow recommendations from the European Summit in May 2013 (see EUROPE 10850) on clamping down on tax...