European Commission proposes far-reaching reform of the EU VAT system:
October 03, 2017
On October 2017, the European Commission stablished some plans in order to
modernise the EU VAT System. This is because every year, States loose almost 150
billion euros of VAT, money that could be used for education or healthcare. 50 billion
euros of this quantity are supposed to be VAT fraud, which can go to different criminal
The Commission wants to achieve a VAT system that allows companies to reach all the
benefits of the Single Market and to compete in the global markets.
Currently, businesses trading cross-border have to pay 11% higher compliance costs
than those companies which trade domestically. With the new VAT system, these costs
are estimated to be reduced on 1 billion euros.
On 2016, the EU created the VAT Action Plan, where we can find explained in detail
the importance of getting a common European VAT, simpler and out of fraud.
JPMorgan calls for UK-EU financial services free trade deal post-Brexit:
November 14, 2017
Sally Dewar, who is the head of regulatory affairs in London, told in the House of Lords
committee that it would be better to create agreement made to size between the EU
and UK for a free market of financial services, instead of using the current system
which is based on the principle of equivalence.
This principle guarantees the access to the Single Market only in those foreign areas
where the regulation seems similar to the European one, and this does not cover all
the financial services.
Suddenly, digital single market doesn't 'need' EU agency:
December 04, 2017
On Monday 4 (December), the European Commissioner for the Digital Economy
pointed out the importance of creating a stronger EU telecommunications watchdog,
in order to reach the future success of the Digital Single Market.
Commissioners proposed to transform the Body of European Regulators for Electronic
Communications (BEREC) into a stronger agency, but the ministers want to keep the
current situation, with the power concentrated in the national scope.
"If we want to have a telecoms single market, it is essential that the rules be applied in
a coherent and consistent way. In order to achieve this, we need an effective,
transparent and responsible agency. This is what we need if we want to achieve
successfully these telecoms single market," she said.