Several EU Member States have been introducing continuous transaction controls (CTCs), aiming to close their VAT gaps, increase revenue and have more control over the data of their economy. However, the CTC regimes adopted by those countries are far from uniform. So far, Italy is the only country that obtained a derogation from the VAT Directive to introduce mandatory e-invoicing in domestic flows. Other countries, such as Hungary and Spain, instead adopted an e-reporting approach, which avoids the need for a derogation from the European Council as it does not mandate e-invoicing.
Source Sovos
Latest Posts in "European Union"
- CJEU Confirms TP Adjustments as VAT-Applicable Services, Requires Supporting Documentation
- ECJ Rules Compensation Payments in Transfer Pricing as Taxable Supply for VAT Purposes
- Court of Justice Rules on VAT for Intra-Group Services and Evidence Requirements for Deductions
- ECJ Rules Non-Transactional Profit Adjustments by Principal Are VAT-Applicable Services in Arcomet Case
- Understanding VAT Implications on Transfer Pricing: Insights from Arcomet Case C-726/23
