ECOFIN approved the VAT in the Digital Age (ViDA) package on 5 November 2024 ViDA aims to streamline and harmonize EU VAT rules, reduce administrative burdens, and safeguard tax revenues The package includes compromises...
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ECOFIN Council agrees on ViDA – E-Invoice
ECOFIN Council agrees on details of ViDA project, which aims to create a transaction-based VAT reporting system ViDA will require the use of mandatory e-invoices, starting in Germany in 2025 New reporting system will...
8 months ago
VAT Regulations for Digital Platforms: Deemed Reseller Models and Implications for Short-Term Rentals
ViDA Directive proposes VAT treatment for platform economy to combat fraud and ensure equal treatment Deemed reseller model extended to online marketplaces for supplies within the EU from 2027 Deemed reseller model also...
8 months ago
EU Finance Ministers Agree on ViDA Package for Digital VAT Compliance by 2035
EU Finance Ministers reached a consensus on the latest version of the VAT in the Digital Age (ViDA) package ViDA initiative includes three pillars with gradual implementation dates Three pillars are Digital Reporting...
8 months ago
Saudi Tax Authority Announces Criteria for Seventeenth Wave of VAT e-Invoicing Integration
Saudi General Authority of Zakat and Tax announced selection criteria for seventeenth wave of linking taxpayer VAT e-invoicing systems Wave begins July 31, 2025 for taxpayers with VAT-taxable revenue exceeding 2.5...
8 months ago
ZATCA Criteria for Group 16 Taxpayers on E-Invoicing Integration: Key Details and Deadlines
ZATCA announced criteria for Group 16 taxpayers for e-invoicing integration Group 16 consists of businesses with an annual turnover of SAR 3 million or more in 2022 or 2023 Taxpayers in Group 16 must integrate their...
8 months ago
Everything you need to know about Peppol
Introduction to Peppol: Peppol (Pan-European Public Procurement Online) was initiated in 2008 to simplify electronic procurement across European borders. It has evolved into a global network facilitating seamless...
8 months ago
UK to publish e-invoicing consultation in early 2025
UK to Publish E-Invoicing Consultation: On 30 October 2024, the UK government confirmed it will publish a consultation in early 2025 to establish standards for adopting electronic invoicing (e-invoicing) within the UK...
8 months ago
E-invoicing will become the new normal for B2G transactions in 2026
Mandatory eInvoicing for Government Agencies: By January 1, 2026, New Zealand government agencies that issue or receive over 2,000 domestic trade invoices annually must have eInvoicing capabilities, ensuring more...
8 months ago
ViDA – Consolidated version of the EU VAT Directive 2006/112/EC once ViDA Act will be enacted
Click HERE for the consolidate version of the EU VAT Directive 2006/112/EC once ViDA is enacted See also ECOFIN approved the VAT in the Digital Age (ViDA) Act – Compromise has been reached Join the LinkedIn Group...
8 months ago
Poland presents framework for National e-Invoicing System
The Ministry of Finance in Poland has presented the framework for a draft act aimed at simplifying the implementation of the mandatory use of the National E-Invoicing System (KSeF). The Ministry of Finance anticipates...
8 months ago
Newsletters on approval of VAT in the Digital Age
From the VATupdate.com sponsors & advertizers GlobalVATcompliance –European Union: Member States Approve VAT in the Digital Age Package Zampa Debattista VATConsult – A Long-Awaited Deal – ECOFIN finally...
8 months ago
Press Release: Commission welcomes general approach on its proposals on VAT in the digital age
Commission welcomes general approach on its proposals on VAT in the digital age The Commission welcomes the general approach announced today by the Council on its proposals on VAT in the digital age. By embracing and...
8 months ago
BREAKING: ECOFIN approved the VAT in the Digital Age (ViDA) Act – Compromise has been reached
November 5, 2024, marks a milestone in the digital evolution of VAT compliance in Europe. The compromise text on the ViDA legislation (VAT in the Digital Age) has been accepted. This means we are on our way to a uniform...
8 months ago
Watch ECOFIN’s November 5, 2024 ViDA Discussion Live Here
Link to the Public Session: click HERE See also E-Invoicing/Real Time Reporting – What can you find on VATupdate.com Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological Collection of E...
8 months ago
Saudi Arabia announces 17th wave of Phase 2 e-invoicing integration
Saudi Arabia’s Zakat, Tax and Customs Authority has announced the criteria for taxpayers to be included in the 17th wave of Phase 2 e-invoicing integration. Taxpayers resident in Saudi Arabia, with a taxable...
8 months ago
Latvian Parliament Approves E-Invoicing Law: B2G as of 2025, B2B as of 2026
Introduction of E-Invoicing Requirements: Latvia’s parliament has approved amendments to the Accounting Law, mandating electronic invoicing for taxable persons starting January 1, 2025, for public sector entities...
8 months ago
Egypt B2B Sales Tax ID and UIN Validation Implementation Postponed to December 1
Mandatory tax ID and UIN validation for B2B sales in Egypt postponed to 1 December 2024 Two-step validation required for zero-rated transactions to strengthen VAT compliance and reduce fraud Real-time, automated...
8 months ago
UAE e-Invoicing Programme: Transforming Tax Compliance in the Digital Era
UAE has amended its tax laws to pave the way for e-Invoicing The UAE Ministry of Finance has released the e-Invoicing Programme The aim is to achieve a digital and paperless economy, reduce tax gaps, and facilitate...
8 months ago
ECOFIN seeks political agreement on VAT legislation in the digital era – Announcements by AADE
The ECOFIN will seek a political agreement on the legislative package of measures for VAT in the digital era Minister of National Economy and Finance Kostis Hatzidakis will participate in Eurogroup and ECOFIN meetings...
8 months ago
Upcoming E-Invoice Obligation for B2B Businesses
Starting from January 1, 2025, there will be a general obligation in Germany to issue electronic invoices (E-invoices) for services between domestic companies (B2B sales). There is a transition period in 2025 and 2026...
8 months ago
EU Council reviews compromises on ViDA VAT reforms for Estonia’s approval on passenger transport and accommodation.
EU member states are still trying to reach an agreement on the ViDA proposal for VAT reforms Estonia disagrees with the proposed responsibility of platform economy operators for VAT collection ViDA aims to modernize and...
8 months ago
EU Finance Ministers to Decide Fate of ViDA Package in Meeting on 5 November
EU Finance Ministers will meet on 5 November to discuss economic and financial matters They will focus on sealing the fate of the VAT in the digital age (ViDA) package The deemed supplier rule has been a point of...
8 months ago
FTA Releases Amended UAE VAT Law with E-Invoicing Implementation Updates
FTA published amendments to UAE VAT Law on 28 October 2024 Amendments are effective from 1 November 2024 Amendments relate to implementation of e-invoicing in UAE UAE committed to introducing first phase of e-invoicing...
8 months ago
ZATCA sets criteria for 17th wave e-invoicing integration for taxpayers with SAR 2.5M+ revenues.
ZATCA determines criteria for selecting taxpayers for 17th wave of e-invoicing integration Taxpayers with taxable revenues exceeding SAR 2.5 million during 2022 or 2023 will be covered under the 17th wave Taxpayers will...
8 months ago
Update on E-Invoice Regulations: Final BMF Letter on E-Invoicing Rules Released
BMF has updated and finalized its interpretation of the new E-Invoicing rules Changes include requirements for contracts to be included as invoices for continuous services For contracts entered into before 01.01.2025...
8 months ago
Poland Advances e-Invoicing System with Key Amendments to KSeF Law
Phased Implementation and Extended Deadlines: Poland’s Ministry of Finance announced a phased rollout for mandatory e-Invoicing through the National e-Invoicing System (KSeF), starting February 1, 2026, for large...
8 months ago
UK Chancellor Announces Key Reforms in HMRC Strategy and New Tax Measures
New Leadership and Strategic Direction for HMRC: Chancellor appoints James Murray as Chair of the HMRC Board to advance strategic priorities, targeting the tax gap and enhancing service quality, driving initiatives for...
8 months ago
