- Adoption of ViDA Package: On March 11, 2025, EU Finance Ministers adopted the VAT in the Digital Age (ViDA) package, following a political consensus from the ECOFIN meeting in November 2024, aimed at modernizing the EU’s VAT framework.
- Key Changes Implemented: The ViDA package introduces significant changes, including a single VAT registration system effective from July 1, 2028, a deemed-supplier rule for platforms by January 1, 2030, and mandatory electronic invoicing and real-time digital reporting requirements starting July 1, 2030.
- Impact on Businesses: The reforms are designed to streamline VAT rules, reduce administrative burdens, and enhance tax revenue security for Member States, necessitating businesses to adapt to new digital processes and strategic planning.
Source PwC
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