- The EU Council has reached an agreement on the legislation package for value-added tax in the digital age
- The agreement allows for the introduction of legal changes within negotiated deadlines
- The DStV welcomes the achieved legal certainty
- The agreement includes digital reporting requirements for cross-border transactions with e-invoices by 2030
- Online platforms for short-term rentals and passenger transport will generally pay their value-added tax
- The One-Stop-Shop for cross-border VAT reporting will be expanded
- Cross-border exchange of data for e-invoices in the EU will help combat VAT fraud
- Companies will need to issue e-invoices for cross-border transactions within 10 days
- The deadline for issuing e-invoices has been extended from 2 to 5 days
- The introduction of digital reporting requirements may benefit small businesses initially
- Additional data, including bank details, will be collected for easier payment tracking by tax authorities
Source: datenbank.nwb.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.
