On 17 April 2024, the European Commission’s Group on the Future of Value-Added Tax (VAT) published the minutes of its 44th meeting, held on 21 March 2024. Topics included the new scheme for small and medium-sized enterprises (SMEs) starting from 1 January 2025, the single VAT registration elements of the VAT in the Digital Age (ViDA) package, status of ViDA negotiations in the EU Council, and EU customs reform. The next meeting is scheduled for 28 May 2024.
Highlights from the minutes:
- The new SME scheme will apply from 1 January 2025, with the Commission presenting drafts of Explanatory Notes and a guide to the scheme.
- An SME web portal is being developed, including an “SME VAT simulator” and access to a database for validation of identification numbers.
- The Commission presented an initial analysis for implementing the single VAT registration elements of the ViDA package, with plans for a workshop in Helsinki.
- Negotiations on ViDA in the EU Council resumed in January 2024.
Source EY
