On 28 September 2017, the European Commission issued a release on the urgent need for value added tax (VAT) reform in the EU, which is supported by a new study that found that EU countries lost an estimated total of EUR 152 billion in VAT revenues in 2015. In order to address current issues, the Commission is planning to deliver proposals in the October 2017 to update EU VAT rules that would make it easier to tackle VAT fraud and make VAT collection more efficient.
The main proposal will i…