Value Added Tax, VAT
A tax added to the price of products in the shops and to the price of most services.
All EU member states must have a VAT rate between 15% and 25 % on all products and services, with a few opt-outs (derogations) from this rule.
1% of the VAT base is paid as a contribution to the EU and forms part of the EU’s so-called “own income” or “own resources”.
Notes
Decisions at EU level on taxation require unanimity.
The Lisbon Treaty have a passerelle clause which can introduce majority voting if it is decided unanimously between the 28 governments.
See also Taxation
Links
http://ec.europa.eu/trade/issu......es/global/gsp/eba/index_en.htm