As the first Commission's report on the results of this agreement proved there was no significant distortions in competition and the trade creation/deflection effects were limited, it was suggested to introduce no changes in the minimum VAT rate and the principle of 15% were therefore extended first until 31 st December 1998
As the first Commission's report on the results of this agreement proved there was no significant distortions in competition and the trade creation/deflection effects were limited, it was suggested to introduce no changes in the minimum VAT rate and the principle of 15% were therefore extended first until 31 st December 1998