ABI welcomes VAT modernisation

“Insurance companies in the UK and continental Europe will benefit from the modernising proposals announced today, a move away from the current system where uncertainty in the legislation has led to several complex ECJ cases.

“The changes will increase clarity, allowing firms to operate and plan more efficiently. This is especially true of firms with cross border operations who will be able to pool operations and share costs between group members without creating additional non-recoverable VAT

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