Value added tax VAT: length of application of the current minimum standard rate, 2001-2005 (amend. Directive 77/388/EEC)

The committee adopted the report by Helena TORRES MARQUES (PES, P) amending the proposal under the consultation procedure. It felt that any further postponement of the introduction of a common system of VAT should be for a limited time only, and accordingly called for the period during which the present arrangements would be extended to be reduced from 5 to 3 years (i.e. until 31 December 2003). The committee also wanted to remove the existing unanimity requirement for the decision on the level of the standard rate, given that the question about the future decision-making procedure for tax matters was currently being debated in the context of the IGC. �