- The European Commission and EU member states have made progress on the VAT in the Digital Age (ViDA) proposal.
- The proposal includes changes to VAT rules for the platform economy and e-commerce, a single VAT registration for businesses across the EU, and digital reporting obligations.
- No agreement has been reached on any of the components of the ViDA package.
- The proposal requires unanimous agreement from all 27 member states.
- Changes have been proposed to the initial ViDA package and are being incorporated into further discussions.
- The element of the proposal with the most support is the simplification measures for a single VAT registration.
- This would allow businesses to do business across borders within the EU using a single VAT registration.
- The proposal also includes the setup of a new special scheme for transfers of stock across EU borders and expanding the scope of the Union One Stop Shop.
- The proposed changes aim to reduce the need for taxpayers to register outside their country of establishment.
Source: taxathand.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.
