- Draft Approval for VAT Law Update: The Council of Ministers has approved the initial draft to amend VAT Law 37/1992, aligning with the EU’s VAT in the Digital Age (ViDA) directive (EU 2025/516), which aims to modernize the VAT system for the digital economy.
- Key Features of the ViDA Directive: The updates focus on enhancing the fight against intra-Community fraud through standardized electronic invoicing, simplifying VAT registration to a single VAT ID for businesses across the EU, and expanding the responsibilities of digital platforms to include services like short-term accommodation and passenger transport.
- Implementation Timeline: The changes will be phased in starting January 1, 2027, with significant reforms set for July 1, 2028, and July 1, 2030, introducing technical updates such as expanded coverage for non-EU consumer services and new requirements for non-EU businesses regarding VAT refunds.
Source Pagero
- 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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