EU Commission update on ViDA discussions: Pre-clearance of invoice to be the cornerstone of E-invoicing & Digital reporting requirements

• 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

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• Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
• Join the LinkedIn Group on ”VAT in the Digital Age” (VIDA), click HERE

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