ACCA appointed as a member of the EC VAT Expert Group

Date

12 Oct 2016

Sections

Euro & Finance

Press release

On 29 September 2016, the Director-General for Taxation and Customs Union of the European Commission confirmed the appointment of ACCA (The Association of Chartered Certified Accountants) as a member of the EU VAT Expert Group.  

During its 3 year mandate starting on 1 October 2016, the global accountancy body will be represented by Chas Roy-Chowdhury, ACCA’s Head of Taxation, and as his alternate, Jason Piper, Senior Manager, Tax and Business Law.

Chas Roy-Chowdhury said: “We are very honoured to have been selected in this prestigious experts-Group. ACCA is a strong supporter of the move towards a modernised VAT system and we welcomed the adoption of the Action Plan. The “status quo” and “business as usual” are no longer sustainable options. The current VAT system urgently needs to be reformed and improved to address the challenges of our evolving global, digital and mobile economy.”

The VAT Expert Group assists and advises the European Commission on VAT matters. It is composed of individuals appointed in a personal capacity with the requisite expertise in the area of VAT, and organisations representing businesses and tax practitioners which can assist in the development and implementation of VAT policies. In September 2016, the VAT Expert Group adopted an Opinion on the work on the definitive VAT regime to which ACCA actively contributed to.

The new definitive VAT regime needs to simpler to better exploit the opportunities of digital technology and to reduce the costs of revenue collection. It also needs to bear in mind SME’s specificities and needs. We commend the efforts and the perseverance of the European Commission. We recognise however that the task will not be an easy one, especially with the unanimity rule in the Council. We now look forward to bringing our expertise and contributing to the debate through our active participation in the Expert Group” Chas Roy-Chowdhury concluded.

The next meeting of the VAT Expert Group will be held in Brussels on Monday, 17th October 2016.

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Notes to editors

About ACCA

For further information: Cecile Bonino , tel: +32 (0) 2 286 11 37or cecile.bonino@accaglobal.com

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 178,000 members and 455,000 students in 181 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 95 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers. More information is here: www.accaglobal.com