See also: Briefing document & Podcast :EU Publishes VAT Digital Age Implementation Strategy for Businesses and Member States – VATupdate
- The European Commission released an implementation strategy for the VAT in the Digital Age (VIDA) package.
- VIDA aims to modernize VAT administration in the EU with e-invoicing, new VAT rules for the platform economy, and simpler registration.
- Key measures include real-time digital reporting, new VAT responsibilities for platform operators, and an expanded VAT One Stop Shop model.
- The strategy outlines a timeline for implementation from 2025 to 2035, with various milestones for member states.
- The package is expected to significantly reduce VAT revenue losses and generate substantial economic benefits.
Source: answerconnect.cch.com
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