The EU’s VAT in the Digital Age Directive- Ten things to look out for (Updated)

1. New harmonised Digital Reporting for intra-EU B2B cross-border supplies
2. End of EC Sales Lists
3. EU Member States will have option to implement digital reporting for domestic transactions
4. Existing digital reporting requirements will need to ensure interoperability before converging to meet the new EU requirements
5. EU standard for e-invoicing (EN16931) will be used for digital reporting – Digital reporting will be decentralised but shared at a European Union level
6. Formal definition of an e-invoice in EU VAT Directive will change
7. E-Invoicing will be mandatory for B2B intra-EU supplies
8. Removal of need for customer to agree to accept e-invoices
9. EU member states will be allowed to introduce mandatory e-invoicing without a formal derogation
10. European e-invoicing standard to be accepted across Europe for B2B e-invoicing