- Introduction of ViDA Reforms: The VAT in the Digital Age (ViDA) initiative introduces significant regulatory changes for businesses in the EU, effective from March 12, 2025, including the elimination of EU authorization for mandatory national e-invoicing and the removal of buyer acceptance for electronic invoices.
- New E-Invoicing Standards and Reporting Requirements: Starting July 1, 2030, ViDA will redefine e-invoicing to require structured electronic formats, disallowing unstructured formats like PDFs. Additionally, businesses will need to report cross-border transaction data electronically in near real-time, with stricter compliance for VAT exemptions and refunds.
- Implications for Businesses: ViDA aims to modernize VAT compliance, reduce administrative burdens, and enhance accuracy while combating VAT fraud. Companies must prepare to update their invoicing and reporting systems, driving digital transformation and ensuring interoperability across different platforms.
Source Edicom
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
- Join the LinkedIn Group on ”VAT in the Digital Age” (VIDA), click HERE
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