European Commission green paper on the future of VAT - ACT response

The ACT has responded to the European Commission’s Green Paper on the future of VAT.

Whilst the Green Paper covered numerous aspects of VAT and essentially asked respondents to ‘start with a blank piece of paper’ the ACT has commented specifically on the method of VAT collection. This could have significant impacts on corporates and we have requested that further work be done as part of a separate paper, which should include the impact on a corporate’s cash flow.