Varga: Compromise on VAT in the digital age among successes of Hungarian EU presidency
A compromise reached on a package of legislation on VAT in the digital age is one of the “great successes” of Hungary’s presidency of the Council of the European Union, Finance Minister Mihály Varga said ahead of an Ecofin meeting in Brussels on Tuesday.
Varga said the compromise had been reached after two years of negotiations, adding that ministers were expected to approve the package at the meeting on Tuesday.
He added that the ministers will also discuss data provision and development regarding European statistics and parts of the Draghi report.
EU finance ministers will discuss the economic situation with their counterparts from the European Free Trade Association (EFTA) countries ahead of the Ecofin meeting.
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“Hungary made it happen!” Not quite.
The initial draft proposal was published on 8 December 2022. After public consultation and political discussions, the Council of the EU published revised texts of the proposals on 30 October 2024 (VAT Directive, VAT implementing Regulation, Council regulation on administrative cooperation). The EU Member States eventually reached political agreement on the ViDA proposal during the Economic and Financial Affairs Council (ECOFIN) on 5 November 2024 – more of a formality, given the preceding steps, than anything else. No big brokering by our Politicians – it just happened during Hungary´s watch.
https://taxnews.ey.com/news/2024-2051-eu-details-on-vat-in-the-digital-age-vida-package
What the world needs is more Politician spin?