EU Value-Added Tax Update Advances, Shell Rule Stuck

Spain has made progress in brokering agreement between EU countries on updated value-added tax rules, but almost none on a draft rule on screening for shell companies set up for tax purposes, an EU official said Thursday.

Spain, which presently chairs ministerial meetings in the Council of the European Union, had “almost closed with broad consensus” an agreement between EU countries on a single VAT registration system, the official said, speaking on condition of anonymity. The comments were made a day ahead of the last summit of EU finance ministers before Christmas.

The European Commission, the EU’s executive, proposed single ...