EU Council reaches agreement on VAT in digital age legislation, welcomed by DStV.

• The EU Council has reached an agreement on the legislation package for value-added tax in the digital age
• The agreement allows for the introduction of legal changes within negotiated deadlines
• The DStV welcomes the achieved legal certainty
• The agreement includes digital reporting requirements for cross-border transactions with e-invoices by 2030
• Online platforms for short-term rentals and passenger transport will generally pay their value-added tax
• The One-Stop-Shop for cross-border VAT reporting will be expanded
• Cross-border exchange of data for e-invoices in the EU will help combat VAT fraud
• Companies will need to issue e-invoices for cross-border transactions within 10 days
• The deadline for issuing e-invoices has been extended from 2 to 5 days
• The introduction of digital reporting requirements may benefit small businesses initially
• Additional data, including bank details, will be collected for easier payment tracking by tax authorities

Source: datenbank.nwb.de

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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