- EU VAT in the Digital Age (ViDA) proposal aims to bring about fundamental changes to the EU’s VAT system
- Three pillars of reform: e-invoicing & digital reporting, online platforms, single VAT registration
- Unanimous political approval from 27 EU Member States required for proposal to move forward
- Recent EU Council meeting did not result in agreement, with Estonia objecting to elements of the platform proposal
- Key features of the current proposals include updated implementation dates and requirements for e-invoicing and digital reporting
- Businesses can begin to prepare for potential changes in VAT reporting in the EU, pending final agreement from all Member States.
Source: kpmg.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.
