VAT in the Digital Age (ViDA) Introduction (I)

The European Commission has submitted proposals to change VAT legislation as part of a major reform in the Single Market.
Tax professionals have drafted detailed reports on the three pillars of the VAT reform: Digital Reporting Requirements, Single VAT Registration, and the Platform Economy.
These reports highlight the need for reform based on practical explanations and data from the past decades.
The Commission has presented three legislative proposals to the Council, focusing on VAT rules for the digital age, administrative cooperation arrangements, and information requirements for specific VAT schemes.
The main reasons for these reforms include the EU VAT Gap, outdated rules, digitalization, modern business models, and the need to simplify VAT management.
The reform is divided into three pillars: VAT reporting requirements, VAT registration schemes, and the deemed supplier model for the Platform Economy.
The Digital Reporting Requirements involve real-time invoice data reporting and the use of electronic invoices.
The Single VAT Registration expands existing schemes and simplifies VAT registration for non-established businesses.
The Platform Economy introduces deemed supplier liability and a uniform approach to defining services provided by platforms.

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