- The European Commission published an updated draft of the “Value Added Tax (VAT) in the Digital Age (ViDA)” package, which aims to amend EU VAT rules in three key areas.
- The proposed changes include expanding the VAT digital platform rules to cover passenger transport and short-term accommodation, extending the single VAT registration and compliance mechanism under the One Stop Shop (OSS), and introducing a new real-time digital reporting system based on electronic invoicing for cross-border businesses operating in the EU.
- The updated draft reflects a compromise of different positions and may be discussed by the Economic and Financial Affairs Council (ECOFIN) on 14 May 2024.
- If adopted, the new rules would come into force on different dates, with the digital platform and single VAT registration rules effective from 1 January 2027 and the e-invoicing and digital reporting rules effective from 1 January 2030.
Source
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
- Join the LinkedIn Group on ”VAT in the Digital Age” (VIDA), click HERE
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