VATupdate

EU Transaction Based Reporting TBR VAT options

EC seeks to harmonise transaction reporting

The European Commission (EC) is undertaking a review to introduce Transaction Based Reporting (TBR), which includes potentially e-invoicing. This is part of the VAT in the Digital Age, with reforms on OSS extension and role of marketplaces.

3 alternative Transaction Based Reporting platforms

  • Transaction data stored by taxpayer
  • Transaction data stored by national tax office
  • Transaction data held at EU level

Source vatcalc

 

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