- European Union refines VAT with VAT in the Digital Age package
- ViDA introduced on December 8, 2022, includes amendments to modernize VAT, enhance administrative cooperation, and clarify VAT schemes
- Phased implementation of ViDA with key dates set for July 1, 2028, and January 1, 2030
- Single VAT registration system and deemed supplier regime to be introduced
- Real-time digital reporting system launches on July 1, 2030
- European Parliament first endorsed reforms on November 22, 2023
- EU Finance Ministers reached consensus on November 5, 2024
- Council re-consulted Parliament on November 7, 2024, due to significant changes
- Deemed Supplier Regime allows platforms to handle VAT, with phased adoption starting July 1, 2028
- Member States retain flexibility in invoicing systems, aligning with EU standards
- Transition to e-invoicing by July 1, 2030, for immediate VAT data access
- Extended deadlines to accommodate readiness levels across Member States
Source: rtcsuite.com
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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.
