The EU Commission’s proposed package (VAT in the Digital Age or ViDA) seeks to modernize the VAT system for intra-EU trade. The present VAT system, which is nearly three decades old, has failed to keep up with technological advancements, shifts in business models, and the increasingly globalized nature of trade. The overall proposed changes aim to further simplify VAT compliance for e-commerce traders and customers.
- Reasons for the Proposal:
- The Current Problem:
- Proposed Changes:
- Benefits from ViDA:
Source: GVC
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