- Political agreement reached on proposal to change VAT rules significantly
- ViDA proposal will modernize the EU VAT system
- Introduces digital VAT reporting and new obligations for platforms
- Aims to minimize VAT fraud and reduce foreign VAT registration obligations
- Impact on businesses, particularly those with cross-border transactions and platform companies
- Businesses will need to adjust invoicing and VAT reporting processes
- European Parliament to be consulted on amended ViDA proposal
- Expected formal adoption by Council of the EU in early 2025
Source: loyensloeff.com
See also
- ECOFIN approved the VAT in the Digital Age (ViDA) Act – Compromise has been reached
- ViDA – Consolidated version of the EU VAT Directive 2006/112/EC once ViDA Act will be enacted
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.
