- European Commission released updated ViDA package “VAT in the digital era” on May 8, 2024
- Ecofin scheduled proposal for approval on May 14, 2024 under Belgian presidency
- Ecofin did not reach consensus due to veto from Estonia on mandatory “deemed supplier” arrangement
- Compromise proposal expected soon as only one member state objected
- Proposal includes changes in VAT legislation such as digital reporting and e-invoicing
- E-invoices must be issued under EU standard starting January 1, 2030
- New digital reporting requirement eliminates European Sales listing but adds additional data points
- Reporting deadlines for invoices have been shortened compared to original proposals
- Member states allowed to implement ‘accreditation schemes’ for electronic invoices
- Member states with existing systems approved before January 1, 2024, will have longer period to comply
Source: vat-consult.be
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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.
