Value-added tax reforms proposed by the European Commission include EU digital reporting requirements based on e-invoicing, new VAT measures for the platform economy and e-commerce, an extension of the VAT one-stop shop return, and other measures to reduce compliance costs for business. Aiki Kuldkepp of Grant Thornton explains the new rules.
Commission’s VAT Proposals
The European Commission’s VAT in the Digital Age proposals of Dec. 8, 2022 can be divided into three main areas:
- Real time digital reporting requirements based on e-invoicing;
- New VAT rules for the platform economy and e-commerce;
- An extension of the one-stop shop.
Source: bloombergtax.com
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