- European Union refines VAT with VAT in the Digital Age package
- ViDA introduced on December 8, 2022, includes amendments to modernize VAT, enhance administrative cooperation, and clarify VAT schemes
- Phased implementation of ViDA with key dates set for July 1, 2028, and January 1, 2030
- Single VAT registration system and deemed supplier regime to be introduced
- Real-time digital reporting system launches on July 1, 2030
- European Parliament first endorsed reforms on November 22, 2023
- EU Finance Ministers reached consensus on November 5, 2024
- Council re-consulted Parliament on November 7, 2024, due to significant changes
- Deemed Supplier Regime allows platforms to handle VAT, with phased adoption starting July 1, 2028
- Member States retain flexibility in invoicing systems, aligning with EU standards
- Transition to e-invoicing by July 1, 2030, for immediate VAT data access
- Extended deadlines to accommodate readiness levels across Member States
Source: rtcsuite.com
Click on the logo to visit the website
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"
- EU VAT Guide: Disbursements vs Recharges Classification and Tax Implications
- Hungary’s Carbon Tax Conflicts with EU Emissions Trading System Directive 2003/87
- EU VAT Compliance: B2C Distance Sales Rules and €10,000 Threshold Guide
- EU Parliament Backs Tax Code Simplification to Boost Economic Growth
- Roadtrip through ECJ Cases – Focus on “Liability to pay VAT – VAT shall be payable by any person who enters the VAT on an invoice” (Art. 203)
