Proposal for a directive
Recital 18
(18) Since the objectives of the action to be taken regarding the simplification, modernisation and harmonisation of the value added tax rules applying to vouchers cannot be sufficiently achieved by the Member States and can therefore be better achieved at Union level, the Union may adopt measures in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality, as set out in that Article, this Directive does not go beyond what is necessary in order to achieve those objectives.deleted