Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-24-Speech-3-435"
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"en.20080924.35.3-435"2
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"Madam President, as I take the floor on behalf of the UEN Group in this debate, I should like to draw attention to three issues.
Firstly, the European Commission’s proposals on changes to VAT on financial and insurance services improve legal certainty not only for economic entities providing these services but also for fiscal entities in the individual Member States.
Secondly, the solution whereby Member States commit to allowing taxpayers a choice regarding VAT on financial and insurance services, whilst leaving many detailed arrangements applicable in this area within the scope of activity of the Member States is a good one. It amounts to decentralisation of taxation powers, and therefore to implementation of the principle of subsidiarity.
Thirdly, ongoing analysis of the financial implications of the proposed changes is essential. In particular this should concern reduced VAT income in the individual Member States as a result of increased levels of deductions by entrepreneurs. The impact of these changes on the cost of financial and insurance services for consumers should also be studied."@en1
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