BRUSSELS, Nov. 7 (Xinhua) -- The European Union member states will hopefully reach a new VAT rules agreement by the end of this year which aims to facilitate cross-border e-commerce, EU officials said on Tuesday.
EU finance ministers gathered in Brussels for their monthly meeting on Tuesday and discussed improved VAT rules to help facilitate e-commerce and online businesses.
"We need new rules to adapt our VAT system to the digital era", said Toomas Toniste, Minister for Finance of Estonia, which currently holds the Council presidency.
The ministers have not reached a political agreement on VAT e-commerce package yet. "We regret that ministers could not reach a political agreement on VAT e-commerce package today. But good progress was made and hopefully the deal can be sealed at the December ECOFIN," European Commission vice-President Valdis Dombrovskis, responsible for the Euro and Social Dialogue, said at the press conference.
The new VAT proposals are aimed at making it easier to buy and sell goods and services online. They are part of the EU's 'digital single market' strategy. The aim is also to improve the collection of VAT on digital services.
A single purchase
