EC Consultation on VAT rules for financial and insurance services

There is a need for a VAT reform in financial services

The most effective way to reform VAT rules in the short term is to fix problems created by ECJ rulings on VAT groups and CSAs. A proposal where the VAT exemption is not removed but made more aligned between the Member States would make VAT rules easier to apply and would have a positive effect on the competition with businesses in other Member States. In the long term, also the removal of the exemption should be further investigated.

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