Local view for "http://purl.org/linkedpolitics/eu/plenary/2016-04-12-Speech-2-285-000"
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"en.20160412.27.2-285-000"2
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"This report retrospectively extends the period to which the minimum standard rate of VAT applies to 31st December 2018. Currently 1% of all VAT collected in the United Kingdom is creamed off the top by European Union. The EU considers UK VAT as an "own resource". I believe that Member States should be able to set their own VAT rates in line with their own requirements and individual economies.
The European Union and its VAT regulations are putting small businesses in my constituency and all over the country out of business. Businesses who want to trade with other EU countries must obtain a VAT Registration Number (even if below the threshold for VAT in the UK), travel through the minefield of whether they have any allowable expenditure that can be offset directly against non-UK sales and submit a cross-border VAT Refund Application, complete a quarterly VAT return and a quarterly VATMOSS return.
Small businesses are sunk by the European Union´s VAT regulations and leave big business with a huge competitive advantage. British consumers pay extra every day for the added cost EU VAT rules add to our everyday purchases."@en1
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