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EU VAT Tax Rates. The European Union value-added tax (or EU VAT) is a value added tax on goods and services within the European Union (EU). The EU's institutions do not collect the tax, but EU member states are each required to adopt in national legislation a value added tax that complies with the EU VAT code. Different rates of VAT apply in ...
The European Union VAT is mandatory for member states of the European Union. The EU VAT asks where supply and consumption occurs, which determines which state collects VAT and at what rate. Each state must comply with EU VAT law, [56] which requires a minimum standard rate of 15% and one or two reduced rates not to be below 5%. Some EU members ...
VAT is an indirect tax because the tax is paid to the government by the seller (the business) rather than the person who ultimately bears the economic burden of the tax (the consumer). [4] Opponents of VAT claim it is a regressive tax because the poorest people spend a higher proportion of their disposable income on VAT than the richest people. [5]
The history of the European Union – Europa; European Union Politics Timeline - Oxford University Press: European Union Politics Resource Centre; Archival material concerning the history of the European Union can be consulted at the Historical Archives of the European Union in Florence
The European Union (EU) is a political and economic union of 27 member states that are party to the EU's founding treaties, and thereby subject to the privileges and obligations of membership. They have agreed by the treaties to share their own sovereignty through the institutions of the European Union in certain aspects of government.
The European Economic Community (EEC) was a regional organisation created by the Treaty of Rome of 1957, [note 1] aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the first pillar of the newly formed European Union (EU) in 1993.
Some member states of the EU required Bulgarians and Romanians to acquire a permit to work, whilst members of all other old member states did not require one. In the Treaty of Accession 2005 , there was a clause about a transition period so each old EU member state could impose such 2+3+2 transitional periods.
Austria, Finland, Norway and Sweden all applied for full membership of the EU and the EU agreed to enter negotiations. The EU's change of heart was also due to predicted enlargement of the EU towards countries mostly in central Europe , invited by the European Commission in 1997 and eventually completed in 2004, and hence the wealthy EFTA ...