1. What is EU VAT?
As of December 2017, there are 28 countries that are members of the EU, and each member country has an abbreviation. And these member countries adopt a common VAT system. There are different items for each member country, but in the major part it will be the same system.
At present, there is an abbreviation for each member country such as TVA, IVA, etc. as well as Value Added Tax (abbreviated name VAT) for the name of the European VAT. The tax rate also varies from 17% to 28% for each member country. Various items are stipulated mainly in the EU directive called Council Directive 2006/112 in the Europe VAT system.
