- ECOFIN approved the VAT in the Digital Age (ViDA) package on 5 November 2024
- The package includes e-invoicing, single VAT registration, and platform economy VAT obligations
- Estonia supported the package after compromises were made, including exemptions for SMEs
- Timeline includes various deadlines for implementation, such as OSS extension and mandatory deemed supplier rule
- Next step involves consultation with the European Parliament to reconcile differences
- Businesses should start evaluating their systems and processes to comply with the new requirements.
Source: fonoa.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.
