Tax
EU to propose VAT reform that allows for lower rates
Countries will be able to charge new rate between 0% and 5% - effectively removing VAT on some products
The European Commission will on Thursday unveil a far-reaching reform to the way value-added tax (VAT) is charged across Europe.
The draft plan, seen by the Luxembourg Times, would allow states to reduce VAT, levied on goods of services, to a rate between 0% to 5% on a wide range of products.
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