Revised ViDA drafts for approval on the Ecofin meeting on May 14, 2024 published
What is in the ViDA proposal for DIGITAL REPORTING REQUIREMENTS
- The use of electronic invoicing should become the default system for issuing invoices. Nevertheless, Member States should be allowed to authorise other invoices for domestic supplies.
- Electronic invoices should in principle comply with the European standard EN16931, However, Member States may still allow for other standards for domestic supplies.
- Member States should take measures, which may include accreditation schemes, to ensure that electronic invoices issued by taxable persons comply with the technical syntax and semantics of the standards allowed and contain all the necessary data determined by that standard. These measures can be taken either with respect to taxable persons required to issue the invoice or to third party service providers, or both.
- Member States should be allowed to provide that holding an electronic invoice issued in compliance with the required standard laid down in the VAT Directive becomes a substantive condition to be entitled to deduct or reclaim the VAT due or paid.
- The deadline for the issuance of an invoice for cross–border transactions should be set at 10 days after the chargeable event has taken place.
- The implementation of electronic invoices for VAT purposes should not require acceptance by the recipient, except in cases where a Member State allows other standards or formats. In a B2B context, acceptance should not be necessary for invoices issued to taxable persons and non-taxable legal persons.
- The obligation to submit recapitulative statements for the reporting of intra–Community transactions should be removed.
- Additional data, including bank details, is required under the digital reporting requirements to track both goods and financial flows in cross-border supplies of goods and services.
- Uniform data reporting across Member States for cross-border transactions.
- Tax administrations seek data on transactions; customers may report if supplier fails to comply, with exceptions for certain states.
- Uniform reporting requirements needed for cross-border and domestic transactions to minimize administrative burdens for taxable persons.
- Real-time digital reporting not mandatory for domestic transactions, but if implemented, should align with digital reporting requirements for cross-border supplies.
- Member States can maintain additional measures for VAT collection and prevention of evasion, but not impose general transaction-based reporting obligations covered by digital reporting requirements.
- Member States with existing real-time reporting obligations have until 2035 to align their systems with digital reporting requirements, unless shortcomings are identified.
Source data.consilium.europa.eu
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