VATupdate

Share this post on

ECOFIN Council agrees on ViDA – E-Invoice

  • ECOFIN Council agrees on details of ViDA project, which aims to create a transaction-based VAT reporting system
  • ViDA will require the use of mandatory e-invoices, starting in Germany in 2025
  • New reporting system will capture real-time cross-border transactions and replace existing summary reports
  • Initial focus will be on B2B transactions in the EU, with the goal of combating VAT fraud
  • Implementation of ViDA will require changes to VAT directives and regulations, with full European system expected by 2030
  • Extended chain of supply fiction will be applied to online service providers like Airbnb and Uber to address tax evasion issues
  • Expanded One Stop Shop system will allow for simplified VAT registration for cross-border B2C transactions in the EU

Source: blog.esche.de

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.

Sponsors:

VAT news

Advertisements:

  • vatcomsult