ALBERTO MAJOCCHI

Il completamento del mercato interno: effetti economici e problemi di armonizzazione fiscale

N. 148

Summary - The process that must lead within 1992 to the completion of the internal market has been started - and made possible - by the attempt of the European Parliament to arrive at a profound institutional reform of the Community. Such process must be supported by the attribution of greater powers to the Community, that will have to manage the monetary and fiscal policies owing to the reduction which will be made in the powers at the national level necessary to conduct an efficacious policy of stabilization and growth. At the same time, the completion of the internal market must be backed by a policy of demand expansion, which is indispensable to profit adequately by the advantages stemming from the shock that the liberalization of the markets brings on the supply side.

The Commission has put forward a harmonization plan of the imposition structure, aiming at reaching the objective of the elimination of fiscal barriers.

The proposals concentrate on the sector of indirect taxation and concern in particular the VAT and the excise duties. With reference to the VAT the Commission suggests to abolish the system of the zero-rating for exports, allowing at the same time the deduction of the VAT paid on purchases made in another EEC member state, whilst a Clearing House would guarantee the redistribution of the yield among the various countries. The rates would be reduced to two and included between a maximum and a minimum fixed at the Community’s level. The principle is substantially reaffirmed that the VAT represents the pillar of the Community’s system of its own resources. This tax, however, would be accompanied with a Community’s additional tax to the national income taxes, so as to guarantee a greater progressiveness of the Community’s system of its own resources.