Information Asymmetries in EU VAT

EUCOTAX Series on European Taxation Volume 53

Information Asymmetries in EU VAT in its up-to-date overview of European Union (EU) value added tax (VAT) law assesses legislation, case law, and practice at both EU and national levels, in the process of examining how to minimize the risks and negative consequences associated with information asymmetries. Unlike conventional direct taxes, the application and administration of VAT depends to a considerable extent on the exchange of information between the taxable person and his transaction counterparts. In practice, the taxable person often fails to obtain necessary information from his transaction counterparts, giving rise to information asymmetries that can induce VAT assessments, sanctions, and audits.

What’s in this book:

As a result of his in-depth treatment of the subject, the author establishes the following:

to what extent information asymmetries in EU VAT have legal implications (e.g., VAT assessments, fines) for the taxable person;

to what extent information asymmetries should have legal implications for the taxable person, taking into account the legal principles applicable in EU VAT;

to what extent positive EU VAT law indeed implies the risk of information asymmetries and any associated unjustified legal implications; and

to what extent legal remedies should be employed to avoid or to reduce information asymmetries for the taxable person.

How this will help you:

This is the first book that thoroughly analyzes the causes and legal implications of information asymmetries, as well as the instruments that can be employed to counter their materialization. As such, it will be of inestimable value to practitioners, legislators, policymakers, entrepreneurs, judicial professionals, and academics concerned with EU VAT law.