1. VAT and the Swedish Presidency

2. Priorities for VAT during the Swedish Presidency
A “SMORGASBORD” for VAT experts currently on the table of the Council
How do you choose?
What are your constraints?
The political dimension

3. Priorities VAT Planning and identifying topics starts early
Things move all the time!
Top prio in the fall of 2008: tax rates – Solved!
Top prio in the beginning of spring 2009: fraud (tax evasion linked to import and other cross-border transactions) – Solved! (partly)

4. Priorities VAT Late spring/summer of 2009: Invoicing Directive
Fight against fraud – changes to regulation (EC) no 1798/2003 on administrative cooperation – several measures
Insurance- and Financial services proposal

5. Invoicing Directive Why do we think it is important?
True intra-Community issue which can reduce the burden on companies if the rules are further harmonised
To stimulate the use of electronic invoicing is an important measure for simplification, environmental protection and control

6. Fraud
Big political interest to reduce fraud nationally and within the European Community
Fraud reduces the budgets of the MS (reduces tax revenue) and will indirectly affect the budget of the EU and thus the EU own resources and the Member ship fees

7. Financial services
Old legislation which leads to a lot of litigation – needs modernisation
Genuine topic for the EU because financial services are easily provided cross-border
Different treatment leads to unfair competition within the EU
Large revenue effects depending on tax treatment

8. What can we achieve in the VAT field?
Hopefully reach some kind of agreement on invoicing
Hopefully take the incoming Directive on fraud forward
Hopefully reach agreement on parts of the Financial services directive