The European Commission has long sought a solution to the problem of collecting VAT on downloadable goods, such as music, but an answer to the issue of enforcement still eludes experts.
Speaking at a European Federation of Accountants convention, Arthur Kerrigan, principal administrator of the commission’s Taxation Customs Union, said the commission recognised a need for a solution and was looking for one, but gave no indication of a time frame or what a solution would look like.
His comments came in response to questions from ACCA’s head of taxation Chas Roy-Chowdhury at the conference in Brussels which asked whether VAT could survive in the 21st century.
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals