Proposal for reduced rates for recyclable products
Last month saw the Czech Republic approach the European Commission to reduce the VAT rate on recycled products. While the European Commission has afforded EU Member States increased freedom to dictate some VAT rates, notably, this still eluded recyclable products.
In line with much of the domestic legislation established by EU Member States, this initiative showcases the European Commission’s intention to endorse policies that can benefit wider environmental concerns. The draft is currently only at proposal stage, but growing environmental consciousness strongly suggests there will be support for the motion.
Kofax will closely monitor any reduced rates introduced in direct response to the proposal and ensure if not already present that they are incorporated as part of our e-invoicing solution.