- The European Council has adopted the VAT in the Digital Age (ViDA) package, a major initiative aimed at modernizing VAT systems within the EU, with unanimous approval achieved at the ECOFIN meeting on March 11, 2025, following a complex political journey since its initial proposal in December 2022.
- Key changes include the mandatory use of e-invoicing by July 1, 2030, real-time digital reporting requirements for cross-border transactions, and the alignment of national VAT systems with an EU model by January 1, 2035, enhancing efficiency and transparency in VAT processes.
- Businesses must prepare for these changes by updating their invoicing systems and ensuring compliance with new reporting standards, with significant deadlines approaching between July 2028 and 2035 that will further streamline VAT operations across member states.
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