European Commission Considering Options to Reform the EU VAT Regime for Intra-EU Trade

On 29 October 2014, the European Commission issued a paper outlining five options to reform the European Union's VAT regime for intra-EU trade. The current system was originally put in place in 1993, and was initially meant to be a transitional regime that would last just four years. In general, the EU VAT regime is applied consistently across EU Member States, although individual State apply varying rates of VAT and have certain specific rules. Although the current regime has been maintained…