Introduction - Basic Futures of EU VAT Law
3 important questions on Introduction - Basic Futures of EU VAT Law
What are the basic Features of EU VAT?
- It is a general tax on consumption
- The tax is exactly proportional to the price of the goods and services
- It is levied in all stages of the production and distribution process up to and including the retail trade stage
- Taxable persons have a right of deduction
What are the essential characteristics of VAT according to CJEU case law?
- VAT applies generally to transactions relating to goods or services
- It is proportional to the price of those goods or services
- It is charged at each stage of the production and distribution process
- It is imposed on the added value of goods and services
What was one of the main reasons for choosing an all-stages tax in the EU?
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