Towards Clarification of the EU VAT Treatment of Vouchers

On 10 May 2012, the EU Commission launched its proposal on the VAT treatment of vouchers. In this article, the authors discuss the consequences of the recent judgments of the ECJ in Astra Zeneca and Lebara for the UK arrangements on vouchers. They also explain the main provisions of the Commission’s proposal and their effect on the current VAT treatment of vouchers in France and the United Kingdom.