A common EU tax base that operates across borders could
be in place within five years.
In a speech to ministers tomorrow, EU tax commissioner Laszlo Kovacs will say
that experts are making headway on the project, which could cut tax complexity
He expects legislative plans to be formed in 2008 that could be in force by
Germany is one of the key backers of the project, however Britain and Ireland
would be expected to opt-out of such a system due to it impinging on
national tax sovereignty, reports the
Kovacs said that 18 out of 25 had signaled support for the project.
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Unincorporated businesses under the VAT threshold given an extra year to prepare before MTD becomes mandatory