A new EU legislative proposal announced today would put online platforms squarely in charge of collecting the more than 6 billion euro ($6.3 billion) per year in value-added tax on behalf of small businesses that provide passenger transport or short-term accommodation.
The VAT in the Digital Age proposal, the culmination of an effort undertaken since January to simplify compliance and to reduce VAT leakage, is part of a proposed revision of the EU VAT Directive. The proposal released Thursday would cost the bloc’s companies an estimated 11 billion euro over ten years, but would save those enterprises 41.4 billion euro, ...
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