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EU legislation:
VAT simplification. The Commission has adopted a proposal for a Directive aimed at reforming the VAT refund procedures by authorising taxable persons to deduct, on their periodic returns, any tax they have paid in a Member State in which they are not established. This would make it necessary to set up a bilateral debt compensation system between the Member States and to introduce additional verification measures, something that would be achieved by means of a Regulation that the Commission is proposing at the same time. These proposals are a response to the SLIM (simpler legislation for the internal market) exercise, which found that VAT refund procedures were extremely cumbersome and costly.
Source: Press Release (European Commission), IP/98/560 (25.6.98)
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