Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-22-Speech-1-080"

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"en.20101122.14.1-080"2
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"Mr President, as indicated in the Council’s proposal for a directive, the minimum VAT rate has helped keep the system operating at an acceptable level. I believe that we should consider having a common regulatory framework which would include the conclusions reached following the experience of the budgetary imbalances highlighted by the financial crisis. A new European VAT strategy is required, focused on reducing red tape and the fiscal obstacles which hamper businesses, especially small and medium-sized enterprises. We must also consider the need to prevent and combat fraud. However, until this strategy has been finalised, I believe that the decision to extend the transitional provision on the minimum VAT rate until 31 December 2015 is intended to reassure the business community, prevent structural imbalances in the European Union and encourage harmonisation of fiscal legislation. Pending the Commission Green Paper on the review of the VAT system, I would like to highlight the tendency of some governments facing recession to increase the VAT rate to 24-25%, as has happened in Romania and Hungary. The relative commitment to keep the maximum VAT rate within a 10% range above the 15% limit has been observed up to now. However, I believe that we need an absolute ban in this respect to prevent any breaches of the 25% threshold. Let us not forget that beyond these statistics, we are dealing with ordinary citizens whose standard of living is being increasingly affected by austerity policies and excessive taxation. I would like to end by saying that overtaxation is not a remedy for an ailing economy. It only serves to prolong the agony."@en1
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