Feeds

Boston E-Party looms, as EU set to tax online sales

Ministers poised for sign-off

  • alert
  • submit to reddit

Gartner critical capabilities for enterprise endpoint backup

The European Council of Economic and Finance ministers (ECOFIN) is set to agree the imposition of Value Added Tax on online sales today. ECOFIN agreed this in principle in December, but after today's sign-off it will have to go through the European Parliament, after which legislation will go into force.

ECOFIN has bigger fish to fry today than VAT - aside from lunch, the agenda concerns updates on the economic Stability and Growth Pact, the Euro transition and the budgetary framework for European enlargement. But it's made its mind up already anyway.

At the December meeting it invited EU member states "to work to develop and implement as soon as possible an appropriate electronic mechanism on a non-discriminatory basis for charging, declaring, collecting and allocating tax revenues in connection with e-commerce supplies with taxation in the place of consumption."

Today it will agree a "temporary interim solution, time-limited to three years, to be extended, for practical reasons, by the [ECOFIN] Council acting unanimously on a proposal from the Commission, based upon the Swedish Presidency compromise incorporating a simplified revenue reallocation mechansim and a commitment to the introduction of an electronic solution as soon as possible and no later than three years after implementation of the Directive."

As you will no doubt detect, we appear to recognise that we are not currently in a position to cut loose the full-scale, all-singing, all-dancing, all-taxing electronic version, but that we are sufficiently hazy about software development to believe that, er, it'll be OK in about three years.

You will find a brief explanation of how Europe proposes to enrage US vendors and trade officials, possibly triggering an electronic Boston E-Party, here. ®

The essential guide to IT transformation

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.