VATupdate
VAT

E-commerce: Council reaches provisional agreement on new rules for exchange of VAT payment data

The European Council reached a general approach on a set of rules to facilitate detection of tax fraud in cross-border e-commerce transactions.

The new rules will enable member states to collect, in a harmonised way, the records made electronically available by payment service providers, such as banks. In addition, a new central electronic system will be set up for the storage of the payment information and for the further processing of this information by national anti-fraud officials.

Read more: Council

tax