ABTA submits TOMS report

ABTA submits TOMS report

ABTA has submitted a report to the EU to influence a reform of the Tour Operators’ Margin Scheme (TOMS) VAT arrangements. The association is working with ETOA, Eventia, Hotels Booking Agents Association and the GTMC to demonstrate the impact of the TOMS redraft, which would increase the cost of compliance and disadvantage the British travel industry. Recommendations raised by the group included more harmony throughout the EU and changes to the views of EU-established companies. “Changes to schemes such as TOMS can often slip under Members’ radar but their importance would be hard to over emphasise. Over the years TOMS has been mostly of great benefit to agents and operators,” explained Mike Monk, head of finance at ABTA. “It would be fair to say that there have always been anomalies in the scheme which created competitive distortions but these proposals put at risk substantial parts of Members’ businesses.”

Gary Marshall
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Gary Marshall
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