Last month the European Commission (EC) issued a statement concerning an agreement by EU Member States to improve the EU VAT system by requiring reporting of data with regard to online purchases.
The initial proposals date back to December 2018. The EC tabled two legislative proposals concerning the transmission and exchange of VAT-relevant payment data:
- Directive amending Directive 2006/112/EC as regards introducing certain requirements for payment service providers; in addition to
- Regulation amending Regulation (EU) No. 904/2010 as regards measures to strengthen administrative co-operation in order to combat VAT fraud.
Source Accordance
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