HEADACHES over VAT invoices for small and medium-sized firms trading in Europe could soon become a thing of the past, according to North West Labour Euro MP Gary Titley.
He was speaking in Strasbourg after the European Parliament approved measures to cut through red tape and simplify VAT invoicing rules. MEPs voted overwhelmingly to scrap 15 different sets of national rules governing VAT and replace them with one simple set of measures.
He said: "Different rules for VAT invoices in EU member states often hinder many businesses. Not only does this proposal introduce a uniform system across Europe, it also covers electronic invoicing and there is provision for the use of advanced electronic signatures.
"The European Single Market is essential for jobs in the North West. Nearly 40 per cent of small and medium-sized businesses in the region already have trading links with other EU member states.
"By giving businesses from Bury to Blackburn greater confidence to reach into these markets, these measures should increase trade, growth and job prospects across the North West."
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