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ViDA: Real-time digital reporting based on e-invoicing under EU VAT

The ViDA proposal in brief

In December 2022, the European Commission issued a proposal on VAT in the Digital Age (ViDA) to modernize the EU’s VAT system. This package has three main objectives:

  1. Modernizing VAT reporting obligations: with the introduction of digital reporting requirements (DRR) and mandatory B2B electronic invoicing (“e-invoicing”)
  2. Addressing the challenges of the platform economy: by updating the VAT rules applicable to services and goods made available via an electronic platform and a focus on the role of such platforms in regard to the collection of VAT
  3. Avoiding the need for multiple VAT registrations in the EU: by improving and expanding the existing systems of One Stop Shop (OSS) and Import One Stop Shop (IOSS) and the scope of the reverse charge mechanism

Source Baker & McKenzie

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