- Overview of ViDA: Adopted on March 11, 2025, ViDA aims to modernize VAT compliance across the EU with real-time digital reporting, expanded e-invoicing, new VAT rules for online platforms, and a single VAT registration system to reduce fraud and streamline tax collection.
- Implementation Timeline: The rollout will occur in phases from 2025 to 2030, including immediate e-invoicing mandates, VAT simplifications for small sellers, and online platforms collecting VAT on behalf of sellers, culminating in mandatory real-time reporting for cross-border transactions by 2030.
- Business Impact and Preparation: While ViDA seeks to simplify compliance, businesses must adapt by upgrading IT systems, automating processes, training teams, and engaging VAT experts to navigate the new regulations effectively, ensuring they are ready for the changes ahead.
Source Fabio Santoro
Latest Posts in "European Union"
- EU Must Intensify Efforts Against Tax Fraud and Corruption, Says Chief Prosecutor
- Complex Interplay: Transfer Pricing and VAT Challenges for Multinational Corporations in the EU
- Complex Interplay: Transfer Pricing and VAT Challenges for Multinational Corporations in the EU
- German E-Commerce Group Achieves Multi-Country VAT Compliance Post-OSS Suspension with hellotax Support
- Virtual Currency Taxation: Analyzing VAT Implications in Gaming Post Case C-472/24
