- The EU has approved updates to the EN 16931 e-invoicing standard to support the VAT in the Digital Age (ViDA) mandate, expanding its use to B2B transactions and introducing new technical features.
- The updated standard will support mandatory structured intra-community e-invoicing from July 2030, with enhancements such as invoice coding, support for multiple orders, payment terms, new invoice information, and XML attachments.
- The European Parliament’s ECON committee has proposed harmonizing financial sector taxation to address inefficiencies caused by the current VAT exemption for financial services.
- Recommendations include reforming VAT rules for financial services, introducing a viable alternative to the withdrawn Financial Transaction Tax (FTT), and considering windfall taxes.
Source: comarch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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