This article provides an overview of the amended EU “VAT in the Digital Age” (ViDA) proposal, which includes new EU VAT rules for digital reporting requirements (DRR) based on e-invoicing, measures for platform economy and e-commerce, and an extension of the VAT One-Stop Shop (OSS) return. The EU governments will vote on the proposal on 21 June 2024, with potential major changes to the EU VAT system in the coming years.
Background
The EU Council revealed a revised draft of the proposal on 8 May 2024, following major changes proposed at the end of 2022. The latest proposal was not approved by the EU governments on 14 May 2024, and a new agreement will be attempted at the next ECOFIN meeting on 21 June 2024.
What’s new in the compromise?
The DRR based on e-invoicing has been delayed to 1 July 2030, and the extension of the OSS has been delayed to 1 July 2027.
Source Grant Thornton
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