- The EU proposed reforms to the VAT system, known as VAT in the Digital Age (VIDA), in December 2022.
- The reforms include real-time digital reporting for cross-border businesses, updated VAT rules for platform economy operators, and a single VAT registration across the EU.
- Progress has been made, but there are disagreements among Member States, leading to potential delays in the original implementation timeline.
- The changes were initially scheduled for introduction between 2025 and 2028.
Source KPMG
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