The Netherlands has won a reduced rate for bicycles and Greece is looking for tax breaks on agricultural machinery The European commission will hand back powers to EU member states on VAT, in a long awaited shake-up of the rules that enabled chancellor George Osborne to declare the abolition of the tampon tax last month. After years of wrangling over VAT rates on everything from bicycles to tampons, the commission proposed on Thursday a far-reaching overhaul of VAT rules that could lead to the minimum EU rate of 15% being scrapped. Continue reading...
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