European Union Taxation Policy

The European Union’s taxation policy aims to create a fair and coordinated system across member countries to facilitate trade, protect public finances, and prevent tax evasion. It involves harmonizing certain tax rules, such as Value Added Tax (VAT) and corporate taxation, while allowing countries to retain sovereignty over other taxes like income tax. The EU also works to combat tax fraud and ensure that businesses and individuals pay their fair share, fostering economic stability and integration within its member states.