(MENAFN) European Union states will have more powers to set sales tax rates, introducing a broad reform of Value Added Tax rules, which will curb widespread VAT.
Furthermore, the plan follows repeated stress from EU states to scrap the system based on centralized EU-wide rate-setting mechanism.
Additionally, Britain will maintain its right to implement zero rates of VAT, a legacy entitlement that it shares with other older member states.
On the other hand, this would solve the tampon tax issue, emphasizing that this measure would allow Britain to reduce VAT at 5 percent rate.
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