- European Commission published VAT in the Digital Age package (“ViDA”) to modernize EU’s VAT system
- ViDA consists of three pillars: modernization of VAT reporting, updated rules for Platform Economy, Single EU VAT Registration
- Ongoing negotiations between Member States since release of ViDA
- Compromise text released by Belgian presidency in May 2024, but no unanimity reached during ECOFIN meeting
- Hungary to take over EU presidency and lead discussions on ViDA
- Negotiations expected to continue during Hungarian presidency and compromise text to be sent to European Parliament for final vote at end of 2024
Source: insightplus.bakermckenzie.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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