Feasibility and Impact of a Common VAT Return in the European Union

One of the European Commission’s action points that are aimed at reducing administrative burdens on businesses is the introduction of a common VAT return. In that context, the Commission assigned PwC the task of carrying out a study on the design of such a return and to calculate the impact of the introduction of a common VAT return on the compliance costs of businesses as compared to the current compliance costs. In this article, the authors summarize the PwC report.