04/12/2007 (Agence Europe) - European finance ministers adopted their conclusions on how to pursue work aimed at simplifying and streamlining the European system for reduced rates of VAT (see EUROPE 9554). They also expressed unanimous agreement on extending reduced VAT rates negotiated by five member states for a transitional period during their membership to the EU in 2004 (see EUROPE 9542). This extension will allow Cyprus, Malta, Poland, the Czech Republic and Slovenia to avoid the...