David Casa, a Nationalist member of the European Parliament, has been appointed rapporteur on a VAT report that aims to amend a directive on the tax’s minimum standard rate, which is set to expire at the end of the year.

The minimum standard rate is set at 15 per cent in member states. The European Commission’s proposal aims to extend the rate’s applicable period by another five years.

Mr Casa said it was imperative during these times of economic turmoil that the business sector would have a degree of certainty of what the future would hold. Thus, it was essential that the proposal was analysed and that a European Parliament position formulated as soon as possible.