VAT REFORM
October 1st, 2004
BY ALAN OSBORNTHE SUPPLY of air traffic control services to airlines will be permanently exempted from value added tax in the European Union (EU) under a new regulation formulated by the European Commission. Essentially what Brussels proposes is that certain VAT "guidelines" adopted by the EU's VAT Committee over the past six years be made binding. The guidelines cover the definition of "taxable persons," the place of supply, the taxable amount and the application of transitional provisions. Assuming EU ministers agree, air traffic control services will fall ...
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