Financial Activities in European VAT - A Theoretical and Legal Research of the European VAT System and the Actual and Preferred Treatment of Financial Activities
Value added tax (VAT) is a key part of the fiscal revenue of many countries. Yet this broad-based tax on consumer spending exempts financial services. This seems puzzling to many, particularly given the significance of that sector and the size of its value-added in today's world economy. The fact that the European Commission is currently reviewing the tax treatment of financial activities in the E