- ECOFIN approved the VAT in the Digital Age (ViDA) package on 5 November 2024
- ViDA aims to streamline and harmonize EU VAT rules, reduce administrative burdens, and safeguard tax revenues
- The package includes compromises and new start dates compared to the original proposals
- Main pillars of ViDA include digital reporting requirements, platform economy regulations, and simplifying VAT compliance
- Changes approved include electronic invoicing becoming the default system, real-time reporting for cross-border transactions, and replacing EC sales listings with DRR
- Member States can authorize other invoices for domestic supplies and must align with the required standard for electronic invoices issued in compliance with ViDA
Source: news.pwc.be
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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