- EU member states failed to reach an agreement on the VAT in the Digital Age (ViDA) proposal during a meeting on 14 May 2024
- The ViDA proposal aims to modernize VAT reporting, change rules for the platform economy and e-commerce, and simplify VAT compliance for businesses
- Estonia opposed the proposal due to concerns about the new deemed supplier regime for platforms in the platform economy pillar
- The Estonian minister of finance raised concerns about the impact on VAT deductions, costs for SMEs and consumers, and competition distortion
- The Belgian presidency will continue negotiations to seek a compromise before their term ends on 30 June 2024
- Key changes in the ViDA proposal include digital reporting requirements and changes to VAT rules for the platform economy and e-commerce.
Source: taxathand.com
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.
Latest Posts in "European Union"
- VAT Treatment of Loyalty Points: Are Issued Points Considered Vouchers Under EU Law?
- Will the ECJ Review the EuG’s Landmark Ruling on Input VAT Deduction Timing?
- EPPO Raids in Germany Over Suspected €1.6 Million Aluminium Customs Fraud from China
- Late Invoices for Intra-Community Acquisitions: VAT Deduction Allowed When Claimed Upon Receipt
- CJEU Rules Video Game Virtual Currency Not Exempt from VAT, Not a Multi-Purpose Voucher
