Brussels, 04/11/2008 (Agence Europe) - Meeting in Brussels on Tuesday 4 November, European finance ministers took discussions forward on the legislative package (directive and regulation) aimed at combating value added tax fraud (VAT) (see EUROPE 9624). The Netherlands, fearing an increase in the administrative burden on companies due to measures proposed, finally lifted its reserve about the compromise put forward by the French Presidency. The agreement, however, has still to be finalised technically at the level of Coreper (member state ambassadors to the EU) before being formally adopted by Council.
The compromise concerns the following elements: - the exchange of information on intra-Community deliveries between the economic operator liable to VAT and its tax administration, as well as between tax administrations of different member states, will be carried out as of January 2010 on a monthly basis; - member states may authorise economic operators to establish these documents on a quarterly basis: a) in the event of service provision and b) when the quarterly turnover of small economic operators for goods deliveries is below €100,000. This quarterly threshold will be brought down to €50,000 as of 2012. The Commission will make an assessment of the rules as of 2011. (M.B./transl.jl)