So, 52 percent of the British have voted to leave the EU yesterday, sending shockwaves around the world. What now? This article provides a snapshot of what could be the future from an indirect tax perspective.
The Executive Body of the European Union is committed to deliver on its 1993 promise of a single VAT area. In addition the Commission wants to close the VAT gap - the difference between tax due and tax collected. Lastly, a "modernized rates policy" shall reflect recent trends of digitization and tackle unfair tax rate competition.