- EU Finance Ministers at ECOFIN approved the VAT in the Digital Age (ViDA) package on 5 November 2024
- ViDA aims to streamline and harmonize EU’s VAT rules, reduce administrative burdens, and safeguard tax revenues
- The package includes compromises and new start dates compared to original proposals
- Main pillars of ViDA include digital reporting requirements, platform economy regulations, and simplifying VAT compliance
- Changes approved include electronic invoicing becoming default, real-time reporting for cross-border transactions, and replacing EC sales listings with DRR
- Member States allowed to authorize other invoices for domestic supplies and exclude summary invoices in fraud sensitive sectors
Source: pwc.com
See also
- ECOFIN approved the VAT in the Digital Age (ViDA) Act – Compromise has been reached
- ViDA – Consolidated version of the EU VAT Directive 2006/112/EC once ViDA Act will be enacted
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.
Latest Posts in "European Union"
- Comments on ECJ C-101/24 (Xyrality) – Judgment on app stores as VAT commissionaires
- ECJ Confirms Deemed Reseller Rule for App Store In-App Purchases
- VAT Challenges in Toll Manufacturing: Goods vs Services Classification Issues
- VAT and Transfer Pricing – Four recent cases @ ECJ/CJEU – 3 cases decided, 1 case pending
- Briefing document & Podcast: ECJ C-580/16 (Hans Bühler) – Late submission of recapitulative statements should not disqualify a business from exemptions
