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Changing Attitudes to EC Law

 
KPE Lasok QC Monckton Chambers gives us his thoughts on how the professional's understanding of VAT has changed
 
VAT or rather the professional's understanding of VAT has changed fundamentally since its introduction in the UK by the Finance Act 1972.
 
For more than ten years after its introduction VAT was regarded in the same way as any other tax provided for in UK legislation. The origins of VAT in the First and Second VAT Directives1 (which formed the EC system of VAT in force at the time of the United Kingdom's accession to the EC) and later the Sixth VAT Directive2 were ignored.
 
The mid-1980s can be regarded as the point at which the significance of EC law began to be appreciated. The...
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