The European Commission has released the final report from the public consultation on “VAT in the Digital Age” that was launched in 2020. This initiative seeks to examine the existing VAT framework for digital services and adapt it for the digital era and new business models.
The consultation requested input from interested parties on how digital technology might be utilized to help Member States fight VAT fraud, as well as for the benefit of enterprises. It also asked whether the current VAT regulations have been updated for the digital age. The European Commission is seeking views on the reporting requirements for value-added tax (VAT), e-invoicing, the VAT treatment of the platform economy, and the adoption of a single EU VAT register.
Source: edicomgroup.com
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