Getting a head start on Digital Reporting Requirements

• The European Commission has proposed a package of new VAT regulations, called “VAT in the Digital Age” (ViDA), aimed at modernizing and harmonizing the EU’s VAT regime.
• The first proposal, “Digital Reporting Requirements” (DRR), is expected to be fully implemented by January 1, 2028.
• Tax authorities around the world are expanding reporting requirements, and the EU aims to harmonize these measures by introducing mandatory eInvoicing and real-time reporting for cross-border B2B transactions.
• Member states are already moving towards eInvoicing and digitalization in response to the proposals.

Source Roberta Grottini

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