EU VAT gap: €160 bn. lost in uncollected revenues in 2014

staggering €159.5 billion in Value Added Tax (VAT) revenues were lost across the EU in 2014 according to figures released by the European Commission. Research shows that the overall difference between the expected VAT revenue and the amount actually collected (the so-called 'VAT Gap') amounted once again to an unacceptably

EU: Developing e-books market

ith an estimated value of 151 billion USD, book publishing gradually evolved into a truly global business early in the 21st century. As yet, however, e-books are nevertheless significant only in a relatively small number of markets. These are led by the United States (13% of the book market) and the

Practical guidelines for businesses on new VAT rules

Invest/Finance

The Commission has published practical guidelines to prepare businesses for the new VAT rules for telecoms and e-services, which will enter into force in 2015. The aim is to help businesses to be fully prepared on time for the change-over, whereby VAT will be charged where the customer is based,

COREPER agrees to provide additional 3.9 billion euros

EU&Politico

The COREPER has on October 14 in Brussels reached an agreement on three draft amending budgets for 2013, covering the EU additional payment needs and updating forecast for the EU own resources, a package proposed by the Lithuanian Presidency. “The Permanent Representatives Committee has showed the resolve to respect the Council