- Intra-EU VAT harmonization accelerates economic development but makes Member States vulnerable to organized crime
- “Tax carousels” steal billions from state budgets annually and pose legal and financial threats to honest entrepreneurs
- Electronicization of settlements and real-time transaction data can combat fictitious turnover and VAT fraud
- European Commission’s “VAT in the Digital Age” proposal aims to reduce VAT gap and settlement costs for entrepreneurs
- Risks of the proposal include technological effectiveness, data security, and controversial regulations on e-invoicing and online platform trade
- ViDA project faces challenges due to lack of unanimity among EU countries, leading to postponement of implementation date
- Hungarian presidency of the EU Council prioritizes ViDA package implementation, but success of ongoing negotiations remains uncertain.
Source: podatki.gazetaprawna.pl
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.
