Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-036-000"

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"en.20111013.3.4-036-000"2
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"Madam President, value-added tax is a vital source of revenue for national budgets. In many Member States, it is even the main source of revenue. While, at the start of the economic crisis, VAT receipts accounted for roughly 8% of Member States’ GDP, their proportion has subsequently grown significantly due to Member States needing to increase their VAT rates. Given that the VAT system accounts for around 60% of companies’ administrative burden, I think that it is vital to the smooth running of the economy for this system to be simplified and updated, especially during a crisis. I call for the quickest possible regulation of the aspects relating to obligations, deductibility and rates, as these are the main grounds for concern that economic operators have. Their complexity hampers economic operators’ activities, increases costs and very often makes European systems less attractive to foreign investors, thereby holding back regional development."@en1
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