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Partnership Proposal |
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The European Commission has
called for a reduction in the amount of value-added-tax levied on
electricity and gas, together with several services, including
building and renovation work, according to a report published in the
Die Welt newspaper.
European Tax Commissioner Lazlo Kovacs will present the new draft
bill July 7.
The measures are aimed at improving the economic situation for small
and medium-sized companies, in order to generate more growth and
employment, according to the newspaper.
Any change to the EU's reduced VAT rate would require approval from
all members for the 27-member strong bloc. The regular VAT rate is
between 15-25 per cent in the EU.
Reported by Dow Jones
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