Brussels Tax Forum 2010
RTvat will once was represent at the 2010 Brussels Tax Forum, held on 1-2 March 2010.
The Brussels Tax Forum is an annual conference that brings together policy makers, experts, stakeholders and the general public from all over the world to discuss tax issues of particular political and general interest. The Brussels Tax Forum was hosted in Brussels by the EU Commissioner responsible for Taxation and Customs Union.
The topic chosen for 2010 was 'Tax Policies For A Post-Crisis World'. The conference focused on the lessons to be learned from the crisis for tax policy, how to reform in the current context, and which reforms to implement.
Carbon Market Insights 2010: 2-4 March, 2010 Amsterdam
The Carbon Market Insights conference, in its 7th year, attracts speakers and networkers central to the climate change realm: politicians and regulators from the front line meet the vanguard of emitters, investors and emissions traders, who will test-drive the new mechanisms and install the next generation of technology, given the right signals.
RTvat attended to put the case for an up-to-date, effective and efficient carbon trading system based on Real-Time technology.
Launch of the African Tax Adminstration Forum, November 2009
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Newly elected ATAF Chairman Mr Oupa Magashula of the South African Revenue Authority |
RTvat Chairman Chris Williams and Executive Committee Member Richard Gray were invited to the inaugural meeting of the African Tax Administration Forum (ATAF) in Kampala, Uganda in November.
Nearly 30 African states have come together to examine how best to refine and develop efficient and effective tax regimes both within their own borders and for cross-border trade. RTvat are delighted to be involved at an early stage in the discussions to design new systems which can take advantage of a 'clean sheet' approach without the obstacles imposed by outdated legacy systems.
We believe that there is a vision and a will in the less developed nations to avoid the mistakes of the entrenched technology and legislative regimes in longer established tax authorities. By designing new systems with state-of-the art technology and taking into account modern payment systems and processes, revenues can by maximised and adminsitrative overheads minsimised for revenue authorities, businesses and individuals.
Working breakfast: ‘Improving the EU VAT system and cutting the costs for SMEs’
Hosted in the EU Parliament by The SME Union of the EPP, 25th June 2008
A well attended event moderated by Zsolt Becsey MEP, with speakers Chris Williams (RTvat), Stephen Bill (Head of Cabinet of Commissioner Kovacs), Professor Alain Steichen (University of Luxemburg), and Gerhard Huemer (UEAPME). RTvat presented the RTvat system as a single solution for reducing VAT fraud and VAT-based administrative costs, outlining how small yet powerful changes to the current VAT system can bring highly impactful benefits to SMEs.
Stephen Bill stated “This is a wonderful idea” and said that he saw technology as the ultimate solution to VAT fraud. His concern over the amount of time required to implement the changes required was countered by Professor Steichen, whose presentation showed how much of the current system will remain the same and how only small changes need to be made to implement the RTvat solution, and by Stephen Coleclough of PWC, who offered the example of legislation in the field of overseas telecoms providers which was agreed and passed within six months.
Concerns expressed about whether banks would agree to be involved were answered by Chris Williams who said that the feedback from banks approached about the RTvat solution was positive and enthusiastic. This comment was supported by Mr. Becsey, who outlined the positive aspects for banks. Other comments about general fraud served to emphasise the specific VAT focus of the RTvat solution. Mr Huemer positively endorsed the focus of the RTvat solution in reducing fraud. Mr Becsey concluded the meeting with a strong endorsement of the transparency of the solution, indicating that the RTvat system will work for SMEs rather than against them and adding his personal support for the RTvat solution.
One-day seminar: ‘Real-Time VAT’
Hosted at Business Europe Brussels by Business Europe VAT Group, 17th June 2008
A lively and in-depth one day analytical discussion of the RTvat solution by corporate tax experts. Topics ranged from current business VAT registration problems, insider dealing, real-time currency exchange and general fraud to exemptions (such as vouchers and gold bullion), import and export, the black economy, and intra-company cross-border trade. RTvat brought two technology experts from the USA to the meeting to discuss the issues of technical interfacing with corporate accounting procedures.
The attendees were keen to explore every avenue of the RTvat solution, providing insight and information on the corporate-specific concerns and range of VAT scenarios. RTvat was very pleased at the level of enthusiasm behind this analysis, and delighted to see the RTvat solution being developed with stakeholders to provide the best solution for all parties involved. Business representatives also expressed their opinions over the likely response to the solution from governments and tax authorities, which RTvat will be following up for confirmation.
The outcome of the meeting was the conclusion that the RTvat solution would have a positive impact on missing trader fraud, on identification issues and on input VAT fraud, all of which were clearly major concerns for the attendees.
ECOFIN Finance ministers abandon Austrian pilot on reverse charge mechanism
The ministers failed to reach an agreement on the project allowing Austria to test a value added tax
(VAT) reverse charge mechanism to tackle tax fraud more ffectively. Member states are disagreeing on
how to combat tax fraud the best way, and the discussion in the Council did not give any indications as to
when the subject will be brought up again.
For more information see > www.bdi-online.de/Dokumente/Bruessel/ZDS_8th_Edition.pdf
ECOFIN Finance ministers suspend VAT fraud talks until May
EU finance ministers suspended their talks on fighting VAT fraud until their May meeting at the earliest, though they insisted they had not reached an impasse, a source close to the negotiations said.
For more information see > www.cnbc.com
Workshop on VAT fraud
The DIRECTORATE-GENERAL INTERNAL POLICIES OF THE UNION (DIRECTORATE A)
ECONOMIC AND SCIENTIFIC POLICIES held a
"Workshop on VAT - Current Issues of Interest" on
23 January 2008 at the European Parliament building in Brussels.
For more information, > see our blog
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