Standard VAT return - EU Proposal withdrawal

According to a study provided by PwC to the European Union, the total annual recurring cost for preparing and submitting VAT returns amounts to EUR 43 billion. On 23 October 2013, The European Commission launched its proposal for a Council Directive amending VAT Directive as regards as standard VAT return. The purpose of this proposal is to introduce a harmonised VAT return and a common approach to the submission and correction thereof in all Member States.

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