The EU’s VAT in the Digital Age (ViDA) proposal aims to modernize the current VAT system by addressing e-invoicing, platform economy complexities, and simplifying multi-country VAT registration. ViDA’s key objectives include reducing the VAT gap, simplifying VAT compliance, and improving data analysis. It plans to achieve these through digital reporting requirements (DRR) to standardize e-invoicing, real-time reporting, and transaction transparency. ViDA also addresses challenges in collecting VAT within the platform economy by exploring “deemed supplier” provisions for specific transactions.
Source Comarch
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