- Germany has announced an action plan to combat tax and financial crime, which includes a new VAT reporting system, an extended retention period for accounting documents, and a data localization requirement via mirror servers for tax-relevant data.
- The proposed VAT reporting system is expected to be a near real-time, invoice-level reporting model, potentially building on Germany’s ongoing B2B e-invoicing rollout to prevent VAT fraud.
- While these measures are currently policy plans without specific technical details or legislative drafts, they indicate a future increase in compliance obligations for businesses regarding VAT reporting and data management.
Source Comarch
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