Measures for VAT in the digital era and tax aspects of Draghi’s report on the Eurogroup table Minister of National Economy and Finance, Kostis Hatzidakis, calls for more ambition in EU competitiveness Resolution...
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EU Agreement: Online Platforms to Collect and Remit VAT – Boosting Digitalization and Fighting Fraud
EU ministers of Finance have agreed on digitalizing the VAT system in Europe after two years of negotiations New rules include electronic invoicing, real-time data provision, and activities on digital platforms to...
8 months ago
EU Member States Approve VAT in Digital Age Package, Setting New Requirements for Businesses
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...
8 months ago
Update of EU VAT Rules: Embracing Digital Age for Fair Taxation and Business-Friendly System
Remarks by Executive Vice-President Dombrovskis at the ECOFIN press conference: As Minister Varga said, ECOFIN agreed to update the EU’s VAT rules to bring them in line with the digital age, keeping up with...
8 months ago
EU Commission Welcomes General Direction on VAT in Digital Era: A Step Towards Fair Competition
The European Commission welcomes the general direction of the Council on its proposals regarding VAT in the digital era The measures aim to make the EU VAT system more business-friendly and resilient to fraud The rules...
8 months ago
2025 Budget: South Korea’s VAT Act Amendments to Boost Digital Compliance and Support Small Businesses
South Korea proposes amendments to VAT Act for 2025 budget Bill includes measures to encourage digital compliance, prevent tax evasion, and support small businesses Key changes include extending VAT deduction period for...
8 months ago
Commission’s Proposal on VAT Modernization in the Digital Age: Embracing Digitalization for Business-Friendly System
Commission welcomes general approach on VAT in the Digital Age Package makes EU’s VAT system more business-friendly and resilient to fraud Introduces uniform real-time digital reporting for VAT purposes based on e...
8 months ago
Key Changes in Draft Law: KSeF Returns to Agenda with Perspectives for Taxpayers
KSeF has returned to the government’s agenda after a temporary pause Implementation of KSeF will be phased, starting in 2026 for taxpayers with sales exceeding PLN 200 million Digitally excluded taxpayers will...
8 months ago
Challenges and Decisions: Implementing ViDA Package in Polish Legislation by 2024
ViDA package finally adopted after almost two years of negotiations Pillar I: electronic reporting and e-invoicing by July 2030 Pillar II: changes to digital platform economy by January 2030 Pillar III: Single VAT...
8 months ago
Transition to EU-wide e-invoicing and digital reporting standard for VAT: Three-step process by 2030.
Gradual transition to an EU-wide e-invoicing and digital reporting standard for VAT Three steps in the process: 1. Twenty days after official publication of the proposal (aim: first half of 2025) Member states can make...
8 months ago
ViDA Package for VAT in the Digital Age Approved by EU Finance Ministers
EU finance ministers approved the VAT in the Digital Age (ViDA) package at the ECOFIN meeting Agreement was reached on the pillars of ‘Single VAT registration’ and ‘Digital reporting and E...
8 months ago
EU Agreement: Online Platforms to Collect and Remit VAT for Tax Fraud Prevention and Support
EU ministers of Finance have agreed on digitalizing the VAT system in Europe after two years of negotiations New rules include electronic invoicing, real-time data provision, and activities on digital platforms to...
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
ECOFIN’s Approval of ViDA: Streamlining VAT Rules for the Digital Economy
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...
8 months ago
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
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...
9 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...
9 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...
9 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...
9 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...
9 months ago
