As is stated by the European Commission (the Commission) in the “proposal for a Directive”, the extension of the optional reverse charge mechanism and the quick reaction mechanism (QRC) is considered because it provides time to develop “further tools to fight tax evasion”. Here the Commission specifically points towards the “VAT in the Digital Age” project, with the modernisation of VAT reporting obligations as a central topic. Such modernisation in the form of a transaction-based reporting system, could really close the VAT gap and pave the way towards a definitive system.
Source Summitto
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