Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-13-Speech-4-042-000"

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"en.20111013.3.4-042-000"2
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"Madam President, after more than forty years since the introduction of value-added tax (VAT), it is indeed high time for a review of this system. The aim should be to strengthen its coherence with the single market and its contribution to other policies. Reforming the VAT system can play a crucial role in supporting the delivery of the Europe 2020 strategy and a return to growth through its potential to reinvigorate the single market and underpin smart budget consolidation in the Member States. Any such improvements require a comprehensive VAT system that will be able to adapt to changes in the economic and technological environment. A simpler VAT system would also reduce the operational cost to taxpayers and tax administrations, thereby increasing the net benefit to the treasury. VAT compliance costs are a major administrative burden for EU companies, and reducing this burden would contribute significantly to increasing their competitiveness. Finally, it is essential to finally find a solution whereby money, including by means of VAT, does not escape from the budgets of the Member States and disappear into so-called tax havens."@en1
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