November 5, 2024, marks a milestone in the digital evolution of VAT compliance in Europe. The compromise text on the ViDA legislation (VAT in the Digital Age) has been accepted. This means we are on our way to a uniform and digitized VAT system within the EU, where e-invoicing becomes the new standard for intra-community transactions.
What has been approved
- Draft Council Directive as regards VAT rules for the digital age – General approach
- Draft Council Regulation as regards the VAT administrative cooperation arrangements needed for the digital age – Political agreement
- Draft Council Implementing Regulation as regards information requirements for certain VAT schemes – Political agreement
- Statements
Timeline ViDA
- Jan 2025: Derogation requirement for e-invoicing abolished
- Jan 2027: Updates in the e-commerce package
- Jul 2028: Single VAT registration and voluntary implementation of Platform Economy
- Jan 2030: Mandatory Platform Economy
- Jul 2030: Mandatory Digital Reporting and e-invoicing
- Jan 2035: Harmonization of pre-2024 existing national e-invoicing with EU standards
See also
- ViDA – Updated Draft Council Directive amending Directive 2006/112/EC as regards VAT rules for the digital age
- ViDA – Changes to the EU VAT Directive 2006/112 – Old vs. New articles
Video on the discussion on ViDA during the Ecofin meeting dd. Nov 5, 2024
