[Madame Dufarge]

No, I don't have the specific statutory language. I searched the IRS site for a reference to this new reporting provision and found nothing, which isn't surprising since the new requirement doesn't kick in until 2013.

I don't believe I indicated that I think this is related to a possible VAT tax implementation.

[Oceander]

On the VAT point - fair enough; that was the OP’s question, though, so I just carried on through and related my answer back to that question. Sorry if you thought I was ascribing something to you that you didn’t say.

[tired&retired]

My post in #22 is about the new requirement that credit card companies report each person’s credit card purchases to the IRS.

Very few people know about this. It’s a stepping stone to the cashless society.

http://www.freerepublic.com/focus/f-news/2470979/posts

Not sure how to post the form here, but here is the link to the draft IRS document: http://www.irs.gov/pub/irs-dft/f1099k—dft.pdf