FMB Welcomes Opportunity For Reduced VAT

Published on July 28, 2003 at 1:06 AM

The Federation of Master Builders (FMB) has welcomed the European Commission's proposal to reduce the rate of VAT on housing repair, maintenance and improvement work. However, they are disappointed that the proposals fall short of addressing the main construction industry concerns.

The reduced VAT rates proposal applies to domestic RMI work and is optional, not compulsory, for EU member states. This means there will still be distortions in the market and the FMB feel that compulsory rate reductions are required to ensure the proper working of a free European internal market.

Source: FMB

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