- The EU commission provided an update on the progress of discussions regarding the VAT in the Digital Age package.
- It was suggested that pre-clearance of e-invoices will be necessary for the mandatory e-invoicing and digital reporting system for intra-Community transactions.
- This is different from the original proposal, which excluded this possibility.
- Pre-clearance can be done by the Tax Authority, an accredited 3rd party, or accredited software.
- The aim is to facilitate digital reporting of invoicing data, with immediate invoice reporting upon issuance.
- This should also apply to domestic real-time reporting systems, but some EU member states have raised concerns about harmonizing these systems.
- It remains to be seen whether the proposal will be approved.
Source Meridian
