Brussels, 18/02/2002 (Agence Europe) - The European Commission has presented a new VAT regime for travel operators selling package holidays to destinations within the European Union. The Commission proposes to allow travel agents to opt for the application of the normal VAT rule or on their profit margins. Applying VAT to profit margins rather than full value of sales will be useful for operators making sales to other agents rather than to the public, notes the Commission. The rule will...