This paper provides a legal and economic analysis of the European Commission's recent proposals for reforming the application of VAT to financial services, with particular focus on their 'third pillar', under which firms would be allowed to opt in to taxation on exempt insurance and financial...

The theoretical and practical advantages of the VAT have led to its adoption in some form or another by most countries and by many hundreds of subnational administrations worldwide. However, nowhere is VAT found without exemptions. Exemptions are arguably the most controversial feature of VAT...

Within Europe differentiated rates structures date back to the introduction of VAT itself. Although evidence as regards potential negative consequences of applying multiple rates was unavailable at that time, difficulties have been apparent for some decades. In light of this reality, since the...

In most countries applying a VAT system, the activities and transactions undertaken by public sector bodies are not subject to full taxation. The rationale usually invoked to justify lack of full taxation is of a mixed conceptual and political kind. On one hand, there is a view that the...

This paper proposes a new framework to assess the impact of Court of Justice of the European Union (CJEU) jurisprudence on Internal Market-related areas, by considering whether the jurisprudence of the Court on corporate taxation fulfils the constitutional mandate, as set-out in the European...