Currently VAT regimes and other tax rates vary from 15% to 25% across the various member states, despite efforts made by the European Commission dating back more than 30 years.
But a third of company executives polled by US delivery company UPS said tax harmonistion would be the most significant improvement to be made across the region.
Setting a uniform tax rate would allow companies to charge the same price for their goods across the region, executives claimed.
However, the Confederation of British Industy continued its opposition to harmonisation, saying the UK had the lowest tax rate in the EU, and changes to this would erode its competitive position.
The UK government is also opposed to EU tax harmonisation.
Companies reported increased levels of scrutiny over their tax planning strategies last year as fewer FDs understand what HMRC considers as tax avoidance, according to HMRC’s latest large business survey
Tax evaders are set to face tough new sanctions under plans detailed by HM Revenue and Customs (HMRC) today
HMRC has outlined a change in VAT policy to the treatment of dwellings that have been formed from either the construction of new buildings, or from the conversion of non-residential buildings
I will feel slightly awkward when I write to the client who is about to receive a large invoice from the PAYE expert, offering him the fee protection going forward