Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-23-Speech-2-895"

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"en.20101123.33.2-895"2
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"I voted in favour of the report by Mr Casa, whom I congratulate on the work and collaboration within the Committee on Economic and Monetary Affairs. The aim of the report is to extend by a further five years the current requirement for EU countries to have a minimum standard VAT rate of 15%. As well as emphasising the importance of a minimum standard rate, the report goes further and stresses the need to devise a new VAT strategy, insofar as the current system, with its increased complexity not only in terms of rates, is not keeping pace with the development of the internal market. As Mr Monti, too, pointed out in his report on the relaunch of the single market, the lack of uniform rates and a different cost of living in the various Member States could create conditions that undermine the spirit of the single market. This puts European businesses, and especially SMEs, at a disadvantage. Furthermore, the European VAT system, as currently designed and implemented by Member States, is often the subject of cross-border fraud, something which costs billions of euro in tax revenue."@en1

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