At the end of 2022, the European Commission proposed a package, VAT in the digital age . This aims to make electronic TTB invoicing and real-time reporting mandatory for all cross-border transactions by 2028. In addition, Member States are free to decide whether to impose the same obligation for domestic transactions.
In concrete terms, this would mean that the tax administrations of all member states can monitor transactions in real time. In the field of VAT, therefore, a shift is being made to a higher gear and this real-time reporting will eventually replace the periodic VAT declaration obligation.
Source ITAA
